I am in Mission Viejo and can get together at my local Starbucks.

Seems minor, but in this era of compressed yields accounting for this the right way is mission critical.Here's an example from a deal I just underwrote:-- Cash investment = $100K-- Airdna reported revenue (of a like-for-like comp) = $100K (INCLUDES cleaning fees)-- Pricelabs reported revenue (for the same comp) = $85K (EXCLUDES cleaning fees)-- Implied annual cleaning fees = $15K-- Other annual expenses (excluding cleaning fees): $70K>>Cashflow/ COC (correctly VS incorrectly accounting for cleaning fees) = 15K vs 30K (15% vs 30% COC)i.e., if I didn't reduce Airdna's revenue estimate by estimated cleaning fees my underwriting would have been WAY off, but I could use Pricelabs' estimate "out of the box" and ignore cleaning fees altogether in my underwriting bc of how they report their data.

Where my 2 existing STRs are located (Mission Beach) is the one area excluded (plus existing good STR units get a priority and our units started as STR in 1999 or 2000).  

On a mission to expand to multi-family.  

There were nearly 200 units in a fairly small community that did not get STR permits (you are familiar with San Diego so almost 200 units in Mission Beach did not get STR permits).  

My property is a brand new construction close to Mission and I have wanted to try 1-6 month rentals for Mission Traveling nurse staff.

My Mom @Rhonda Blue started investing when we lived in Orange County, Mission Viejo CA.

Mission Beach folks got screwed as many long term STR owners lost their ability to do it.STRs aren't on the ropes, or collapsing.

They reflect a mission, a vision, or the values that drive the founders.

I am not on a mission to make everyone wrong... and be right.