@Jordan Dzubak we played with the idea of getting something at the Lake a few years ago, but ultimately never pulled the trigger in large part because so many neighborhoods were modifying their C&Rs to prohibit short-term. 

If you don't, then you essentially have no insurance on the property.But, it's when the lender is notified of the new insurance coverage that will actually notify the lender and then they will trigger the due on sale clause.

I really appreciate any input or suggestions before I pull the trigger on these large expenses.

My family and I decided on Reno because of the low property taxes (that don't reassess on the sale), much more favorable tenant/landlord laws than CA, diversified job growth, population growth, close proximity to Lake Tahoe and the Bay Area, and the overall weather is not as harsh as a lot of other areas across the country. 

. #4 Once you're comfortable with everything and you find a deal you like, pull the trigger.

However, one deal taught us a harsh lesson about balancing kindness with caution—a deal that nearly ended our business before it truly began.It was the end of our first year, around Thanksgiving, when we received a lead in Massachusetts.

In California, people don't want to disclose significant home upgrades because it could trigger a Prop 13 property tax reassessment. 

You can have no active participation in any investment made in your retirement account without triggering the unrelated business income tax.  

I’ve actually been a part of BP since 2017 now but too afraid to actually “pull the trigger.”

It's just not a deal killer in most situations so if you like everything else about it, I'd pull the trigger!