I am sure you're aware of the FEMA 50% Rule for renovations of properties in certain Flood Zone's, so I won't insult your intelligence by going into it.

Utilizing the years of experience from the people on the forums will allow me to talk intelligently with a realtor, the property manager, the seller, and so forth.  

Scott for the intelligent answer and not attacking me. 

If you think you have average intelligence and a general hard working person, for non luxury STRs (competing with 3 star or below hotels in the area for average people who simply need a bed and a kitchen) I would use 60% occupancy rate to start in the beginning and then 80% after stabilization.

I am not Satoshi Nakamoto but Satoshi Nakamoto literally translates to "Central Intelligence" in Japanese.

I've personally witnessed several intelligent people suffer financial harm because they trusted this info, didn't think they needed buyer representation, and overpaid by 6 figures.   

Is that intelligent financial management?

I also see a highly intelligent community of people building solutions and working towards Adoption. 

California has the highest share if investor owned homes in the nation   So it appears that a lot of RE investors are choosing to purchase and own in CA.https://www.corelogic.com/intelligence/total-investor-home-p...Why do people invest in ca?  

I think you're misguided on this particular topic, but you seem like a nice and intelligent guy, so thanks for the lively discussion.