The rental market has softened in SF and that’s why the NOI estimate is less if I were to just market it for annual leases.

SUPER rough estimate. 

. - Rents are also a function of supply - 2024 saw the most new construction of multifamily units in American history (nearly 575,000 estimated 2024 deliveries of new multifamily inventory), and 2025, while not a record setting year, will see deliveries top 500,000 again - a huge supply increase. 

The reason that I did not think it was for me is it did not have a function for estimations. 

The answer is cost of construction came up slightly, and prices came down slightly.

Keep in mind refinancing costs typically range from 2%-5% of the loan amount, so weigh the upfront costs against the long-term savings to see what works best for your goals.Good luck!

If you decide to revisit STRs, you might want to explore properties where you can project expenses independently, such as using local STR forums or online tools to estimate maintenance, management, and occupancy costs.For networking and strategy-building, you might find local meetups or groups beneficial.

There is so much that goes in a business, rental rates, rental tax, inventory,  job costing, payroll, business analytic reports etc, QiuickBooks does handle what I have mentioned here. 

This demographic is projected to keep increasing over time, so I would do whatever you can to hold onto this property (ie cash flow well).Furnishing 700 sqft with PB or West Elm (you and my wife would get along great, Bonnie) won't be price-prohibitive and well worth the cost.

The real prohibitive costs come from the legal, compliance, and reporting requirements of registering a security.