I was originally planning on trying to find a 3BR house and rent out two of the rooms, but that will not cover much of the mortgage in my extremely expensive market in the Pacific Northwest.

For example - a tenant put a pan on the stove to cook some chicken with a bunch of oil in the pan, realized they forgot an ingredient and went to the store with the heat still on and the oiled up pan on the stove which caught fire and burned down the property.

I just spoke with a bank here in the Pacific Northwest that does a 20 year term and has a fixed interest rate for the 20 years.

I know in my local area (Pacific Beach) the community has spoken out against short term rentals in general.

So, while I'd agree those estimates would be too low had this not been the case; I think a budget of $10,800/year should more than account for the repairs & improvements they'll need to cover, given the extent of the recent rehab.Also, if you're familiar with Pacific Beach, you're probably aware of how unlikely it is for you experience a 5% vacancy rate (2.6 weeks/year). 3: I appreciate the compliment.

Of course, this strategy only works if you have the financial ability to carry it through the quiet months or be able to convert it back to LTR as a back up plan if STR doesn't pan out.

We plan to find a multifamily in Long Beach next year that will pan out to us living there for free and allow us to be closer to her family.

It can be very dangerous to rely on only personal funds for a flip if that investment doesn't pan out.

There’s also the Pacific Pivot which is occurring right now.

I live in the Pacific Northwest where everything is expensive :)Could she have hired a handyman to do this?