Put 15-20k into the property for renovations and to renovate the 3rd floor attic space and he told me it just appraised for 155k but you really need experts on the ground who can help you locate these deals and help get the best price.

If your properties are all located in CA I would advise looking in states like IN, OH, FL, TN, OR, GA and a few other states depending on comfort zone.

The type of the neighborhoods where his properties were located didn't fit in with my plan but he did well and the purchase costs were low.

I was just on their website looking at the permit process:CityofSac-STR PermitLooks like 90 days max until you get a conditional use permit but still reading as it seems a little unclear:A short-term vacation rental may operate from a location that is not the operator's primary residence for a total of 90 days in a calendar year.

AND just because you have experience and a “good deal” doesn’t mean you will be successful trying to syndicate the deal.The first criteria is does the sponsor have the general knowledge and experience in real estate, and the specific knowledge and experience in the property type/location to give the project the best shot at success?  

This home was located in a zip code that is notorious for its ultra-modern design (though those homes are still sitting for sale).

I was going to use Kiavi, but apparently I do not have a consumer profile and lexisnexis has to locate it and this can take a while and I have a deal on the table that I do not want to lose.Please advise.Thanks!

But the location location location was a 10.

I do agree with you, when your margin of error is higher you don't have to be as precise which ultimately leads to waste in profits and prolongs your abilities to reach your goal if you are not disciplined.

I can say I'm biased because I'm located here, but the numbers work and it meets all your conditions.