However, there may be a commonly expected way of handling it in your area.

Quote from @Sebastian Bennett: @Russell Brazil Why do you expect expenses to go up? 

@Jose Morales Is there a reasonable expectation backed by fundamentals suggesting these properties valued at $25K will appreciate?

I’d like to connect with you and others about buying a home near Cold Springs (Toulumne County)  to turn into STRs (permit process, cash flow expectations, etc.).

Personally, I would not keep a rental that is not expected to cash flow. 

Don't let them choose for you.Just inspect what you expect....Also I would talk to housing office in Memphis to get a feel of how many people are on the Section 8 waitlist, what kind of rents they pay, what zip codes are they targeting, see if they have any stats about how long tenants stay and average rent.While a lot of people try to look at google street view to get an idea of the neighborhood, there is no substitute for visiting in person.

Still lots of work to do on the house and the “book” I still have to figure out what to do for it (paper/digital/both), and a few more things I probably am not yet aware of … reading on this forum and asking questions sure has helped out a lot.

investors can figure on 10 to 12% return on PMLs   generally they are short term 6 months to 18 months.. in my 40 plus years at PML I find most investors started as landlords then tire of it and start to diversify.

To avoid going through the same poor experience, keep reading.Even if someone give you a referral, don’t make the mistake of assuming that PMC will meet your expectations, just because they met the expectations of the referral source.We also can’t believe how many owners hire the first PMC they speak with!

You’ll want to make sure your property is styled and stocked to fit the target market catering to what Big Bear has to offer and what guests expect.