The existing number of vacation rentals are so far over those caps that anyone who gets on the wait list today will likely wait 5-10 years before they're up for a permit.I do think this is the natural progression of what is still a relatively new industry.

They have a NEW TITLE AGET KIT FOR BEGINNERS accredited instruction here: (and association membership for those in the industry) https://www.alta.org/career-and-learning/webinars-and-traini...

If you have $50k or less, you can partner with someone who brings other strengths—like experience, time, or creditworthiness.

Or you want to leave the STR industry? 

Anyone dissing Jerry, or anyone else out there who is genuinely putting in the work and deserves every penny they EARNED - In addition to dropping gems that are unmatched in the industry are either under a rock, or don't know what they're talking about because they haven't put in 2 mins of the work to give the man a chance.

A little about me: My husband and I live in the SF Bay Area, we have a 3 year old and a newborn and we both work W2 jobs in the biotech industry.

The more rehabs you do the better understanding you will have of the market for contacting work and materials.Doing a rehab every so often prevents you from being sharp with your budget.For those with limited exposure, ask others in the industry and always run your numbers based on being overbudget and overtime. 

Regarding DTI - mortgage industry will alllow around 40%, but tenants tend to pay a higher percentage of their income to rent/housing than homeowners.

Historically industries have been killing competitors in this way.

Success: stablized a great industrial IOS deal to a 12 cap.