I'm living in Orange County, CA and looking to get started by purchasing our first property in the next 9-12 months.

Since management usually controls marketing and pricing you could argue it is a 3 legged stool Location-Product-Management.

They are building, essentially, another old town "like" area on Orange grove between Lincoln and Los  Robles!

I fully expect an OOS STR will be much more leg work than an MTR, that was big part as to why we trialed the MTR in our backyard rather than going all out and jumping right into the OOS STR. 

Unfortunately she wanted an arm and a leg for the downtown commercial property and the country multi family had a driveway that was too steep for me to consider with our winters and was in a bad spot.

I usually explain it as an octopus with a parent company (head) and many lower level LLCs (the legs). 

I have a track record of why it went down with dealing with two broken legs over the last two years with a few surgeries in between and can show proof of all my surgeries etc.

Orange County.

I recognize comparing ratios of LTR and STR is comparing apples to oranges, but a property that was purchased for $375K had STR rent in 2019 of ~$160K (no matter that it is an apples to oranges comparison, the numbers make it clear this was a homerun purchase).Learn your options on how to acquire RE in CA for little out of pocket.BTW my initial protege I believe started in 2015. 

He said it is "nearly impossible" to get a good interest rate by purchasing through an LLC and that it will take an "arm and a leg" to get the deal closed.