I would only underwrite based on actual rents not proforma.

Hey @Brett Baker, generally, any place with a great water view or directly on the water will bring more revenue.Of course profitability will all be based on purchase price and prevailing nightly rates in the area.If you find a cool 2/2 or 3/2 right on the water with a great view for 1.5m or a 2/2 or 3/2 house a block away for 600k, then I would look at the house over the condo.

house hack is possible. base way to get feet wet

I believe it's because the property is being sold "as-is," and they are unwilling to make repairs or negotiate based on findings.

Hi all! Excited to join the BP community.
About myself - I am a principal of a RE development company and co-founder of an proptech company. 
On the RE side - I own/developed 2,000 residential units across the Unite...

I would compare my return with any market, anywhere but 1) this is a different San Diego market than the one I have been so successful in 2) while I am a big fan of leverage, I am not a fan of over leverage.

In the end, many fail because they make a decision based on the wrong motivation. 

Shared housing provides affordable, flexible rental options for young professionals, remote workers, and students.As shown above, co-living properties have more demand than traditional two-bedroom units and appeal to a wider tenant base.2.

I'm a big fan of value-add opportunities, whether it's buying something currently undervalued & fixing it up to my standards, or buying something that has additional income opportunities that have yet to be incorporated. 

Also if this property is on septic that also can throw a wrench into the ability to call a space "a bedroom" as septic systems are sized and permitted based on the bedrooms.