It has yet to happen for an RE related event but my last threat of being sued was last month (and unlike most suing threats, we had made some minor mistakes on this one).

I have been in the STR market for the last 13 years.

On paper some of these buildings had amazing metrics, excellent cash on cash returns, cap rates, etc, but when I looked at the buildings I found the neighborhoods were rough, there was poor management in place, there was lots of deferred maintenance to address.

This can encourage positive word-of-mouth and build goodwill if they’re ever a reference for your property.Ultimately, focus on fairness and clear documentation.

My last visit was in 2021 and owners were limited to one guest per month.

But as of the last 6 or so months I seem to be losing direction.

Hi @Christopher J Driscoll I am doing something quite similar to your approach, my ADU permit should be approved quite soon, I am still waiting on my last LADWP clearance.

“L&I has to often prioritize, and the things that get prioritized are things like fire safety issues, hazardous buildings,” she said.

So why not put that money to work and start building up some cash flow?

What are some questions that you can ask to each of the required team members(PM, Agent, etc. ) to ensure that goals align and they are best fit.