Thanks,Chad Otsuji If you need to close in two weeks a local mortgage company is probably out of the running.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

So you would either need to learn a lot about how to be an awesome STR operator and you would probably need to put into your home $20,000 to $100,000 in adding furnishings, design, and adding amenities to make the property desirable.

Probably needs some updating before I'd present it to a client

im looking to buy rental properties in florida or texas with very good rental return using my sdira probably 2 properties and also pm to manage it.

I currently manage a long term rental and working on a single family home fixer (will probably convert to rental in the future) in Cali.

I would probably, say "thank you, but our renting guidelines don't allow for that big of a debt load to be approved."

Look at lower ARV properties 200k and below and you'll probably find some that can work as a flip or a BRRRR even with current interest rates.I also would recommend meeting with a lender and describing your goals. 

Which probably defeats the purpose of the STR loophole, making it pointless to even attempt to claim STRs on CA returns.

He is probably trying to find someone that will buy the property, he then charges a "markup" to the buyer.