I think having a balanced budget would be ideal where you allocate money into buying another property and money set aside for renovations.

Before finalizing a decision to sell, I thought I’d get some thoughts from the BP forumThe only obvious factor I know to try to head off a problem is to carefully screen applicants.

Ideally, you layout all the duties (Find, Underwrite, fund, rehab, manage) and assign a value to each of those based on how much time they might take. 

BPOs are typically exterior only and agents usually earn $30 - 50 to complete them, so use them as a reference but not the deciding factor.                                                                                                                                                                     

There should always be timeline contingencies factored into each projects specifics.

You could tell them to cancel the listing and you will find someone else to list it after a month not 4 months (the market take is subjective too, all dependent on what your house has compared to others, where it is located, the size of it, and so many other factors).

@Jerry Zigounakis For your STR in Big Bear, forming a CA LLC is ideal for liability protection, even with the $800 annual franchise tax and possible gross receipts fees.

But that is calculated after expenses and depreciation is factored in. 

My ideal location is in the middle so I'm away from severe flood risk, but still 15-20 mins tops to downtown or the beach.  

Our real estate goals are to purchase our first investment by end of 2025 (ideally small muti-family like a duplex), and scale to ~40 doors to reach our financial targets.EDUCATION & EXPERIENCE: My parents flipped every house I ever lived in growing up.