This would apply to your unit.Your biggest concern with setting the rent should be the near future. 1) Your insurance is guaranteed to go up, probably dramatically.  2) You may get an insurance assessment bill to cover the CA Fair Plan losses.

If your current lender can’t accommodate you, explore STR-focused lenders like Host Financial or Lima One Capital, or consider bridge loans to buy time while you build your rental history.

In this type of situation, they want low interest rate with low down payment also.

I am actually kind of astonished by this.

What area is this property in?

With this type of YOY growth, you can re-invest you equity into upstate or OOS markets (i.e.

Have you looked into any specific states yet, or are you still exploring options?

@Stephen Meyer How motivated are you to get this going?

This is pretty clean.Scenario 2:  Your partner has owned the house for 15 years and has been taking accelerated depreciation, so the book value of the house is very low.