In addition, you would need enough working capital to pay for insurance (which will be going up a LOT in Los Angeles) and to pay for property taxes.Don't buy this unless you have substantial resources and a cash cushion to keep yourself safe.

I have experience managing this on multifamily properties as both an owner and a lender.

And a SUSTAINABLE approach to rental property ownership. 

As more people placed more properties in STR inventory, and as more municipalities taxed and regulated the industry, the profitability of the overall industry has reverted to a much more aligned (lower) risk adjusted return.  

With patience, resilience, and a willingness to learn from experience, you can overcome these obstacles and set yourself up for success.

Close to the University of Virginia and a large research hospital. https://www.airbnb.ie/rooms/851008521978902877?

A lot of investors who succeed in EC know the tenant base very well and a lot of them self manage.

Knowing your current state comps is a great place to start and a real estate agent can help pull those figures quickly. 

It was a 50% of one months rent and a $100 increase in rent. 

And as time goes by, rents will increase and your income will look better and better.My first investment in 2004 made $35 more than the mortgage.