Yes, it may cost a lot more but being in NY it may offer a lot more margin as well.

Because they rather go to Mexico, the Dominican Republic or Costa Rica.

Do we use the current basis (acquisition plus reno cost) as the starting point? 

Buying a $800,000 or $1 million SFH in the Bay Area and now at 7% interest rates is going to cost a lot of money.

If it keeps my vacancy numbers down, then the money I am putting aside for vacancy can go to the extra cost a professional might charge to fix the tenants mistakes.Just for reference, my tenants are staying on average about 5 years and I still save for vacancy between 2-4 weeks per year.

If you only need $30k fast and for a short term and aren't sensitive to cost, a private lender is probably your best option. 

@Rome Gal, btw La Costa Resort and Carlsbad Village Inn both sell the same business model as the Hard Rock Hotel in downtown SD.

The risk is if they stop making payments, then you would need to foreclose and that could take a long time and cost a lot of money.

Ab1482 does not apply to units less than 15 years old and due to costa Hawkins no local ordinance can rent control units less than 15 years old.   

@James Ohliger what an owner is really doing when hiring a PMC is buying their expertise and time.You can think of expertise cost as a relatively fixed cost.