Obviously if the difference between a standard LTR and a STR/MidTerm is that different, I would highly consider it, but I'd have to study up on all the extra variables of what an STR entails.

Hi all, Recently my SF rental property had some pipes freeze and burst, causing a considerable amount of water damage to the house.

For water maybe some sort of large reservoir and have water trucked in?

The HOA covers all water, flood and building insurance, internet, bug spraying etc. and it's $1562 a month.

I saw a lot of potential even though there was much deferred maintenance, poor mgt. and significant water damage in one unit requiring complete rehab.

You need some descent reserves to be a larger landlord, because you don't get a choice when the AC unit goes out, or the hot water heater floods the upstairs unit that then floods the downstairs unit.  

You could find an attorney or agent - recommend negotiating a flat fee with either of them as pretty standard docs.

I apologize if this is all just fairly standard financial modeling.

Then we started having issues with the city code enforcement and water company and being fined.

I'm also looking into doing a cash out refinance or just doing a standard loan on my next property.