Their return is primarily via the sophisticated value add, rent growth is the icing other cake. 

On the refi side you can't have your cake and eat it too.

I would look for deals with a home on it and make the deal work with the existing setup and if you can get an additional lot, thats just icing on the cake.

I used to live in Irvine, CA and used to visit Anaheim quite a bit (hard not to when you have Disneyland next door).I appreciate the warm welcome!

I know many on this site consider appreciation icing on the cake but our economy here is set up differently and is built for any kind of recession with a large government job base so we have seen 40 years of continuous appreciation. 

If you break the law, then an LLC or S corp or any other insurance or structuring will NOT protect you ... you can't have your cake and eat it too ... you can't break the law and then go pleading with a judge for protection when you get sued for it ... well, you can try, and I'd love to be in audience in that courtroom when the judge rips you a new one.

@Erica Muller @Michael PeachI'm sure Florida is different, but the left coast Disney (aka Anaheim) just gave STR's 18 months to cease operations.  

Anything else is icing on the cake. 

If you go to your friends party and you bring a cake.

I don't own a home here so I'm thinking abt starting off the airbnb thing by renting out the other bedrooms of the house I am renting in the Anaheim area (great short term rental area)I know there are some rules etc for short term rentals so I am wondering if someone can tell me if I am able to rent rooms of I home I am actually leasing and whether this is allowed in the Anaheim or surrounding areas?