I would like to pose a question to those who are experienced with residential real estate financing. If you are fortunate enough to have cash, you have two financing options:

1) Get traditional mortgage at time of ho...

In 1987 I bought an old Cape built in 1942, the Pearl Harbor attack was on a front page newspaper stuffed in the bathroom wall to hold the soup dish in place during the build.The stucco had seen better days & was peeling away from the wire mess & leaking badly within the wall cavity.

Its probably not a good idea to have all your eggs in one basket or all your STR's in one area and no long term rentals to cushion a blow of losing the ability to rent all your STR's that are in one location.I imagine there will be a lot of new long term rentals or houses for sale in the South Lake Tahoe area.Also it says banning "most" what are the exceptions that don't fall into most?

It appears they're gutting and rehabbing some or all of the units (This is good for me as it's more of a C+ location, but surrounded by A locations, and needs more rehabs in the neighborhood).

I like the idea of putting some or all of the water cost onto the tenant so they'll be careful with their use. 

@Gerry Harris hey Gerry if I was in your situation I would pay down high interest debt, put a down payment on a 2-4 plex or something you can “house hack” to cover some or all of the mortgage.

Acceptance of monthly rent payments constitutes a legally binding, month to month, ORAL lease agreement.

Neither the preceding sentence nor any provision pursuant thereto in a limited liability company agreement or certificate of formation shall (i) restrict a series or limited liability company on behalf of a series from agreeing in the limited liability company agreement or otherwise that any or all of the debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to the limited liability company generally or any other series thereof shall be enforceable against the assets of such series or (ii) restrict a limited liability company from agreeing in the limited liability company agreement or otherwise that any or all of the debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to a series shall be enforceable against the assets of the limited liability company generally.

But you should require the seller to disclose that up-front.Many of the distressed properties my clients acquire have oral MTM leases.

The cold down there may be keeping the floors of the first-floor apartment cold, and if those floors are diagonal plank subfloors covered in thousands of pounds of oak tongue-and-groove flooring, as they would typically be in such a structure, that's a lot of thermal mass working against you to keep the first floor cold.You can minimize that from the top by laying down rugs or even carpeting the whole space, but if you can work from below and insulate the cavities between the floor joists with faced fiberglass insulation batts, that should help more.If you are willing to DIY that much insulation work, you can really change the math on the heat equation.