There are rentals, fix and flippers, lenders, tax liens, note investors, STR, commercial etc.

Malibu allows it but requires a 15% "hotel tax" on the gross revenue.I would recommend looking out of state or underwrite the property as a long term rental in the event laws change.

Do I just have to go by the actual numbers like revenue from last owner and taxes?

I'm currently building my team with Tax Advisor/CPA, RE Attorney, REI friendly agent and designer first on the list in that order.

Your problem will be them incurring capital gains taxes simply so you can get a commission.

Type Line Item Fee Fixed Fee Collected Rents 10% of All Collected Rents New Tenant Search & Onboarding $600 Variable Fees Business Hour Service Calls $90/hour + Materials Cost + Tax After Hour Service Calls $120/hour + Materials Cost + Tax 3rd Party Coordination HVAC Cleaning & InspectionGutter CleaningSpring/Fall Exterior CleanupSeasonal Mowing & Weed TrimmingSeasonal Snow PlowingGeneral Contractor Negotiated Vendor Cost + 10% Oversight Fee  

If you need financial help, ask under the "Finance, Tax, and Legal" forum.

@Brett RiemensniderYou don't need to provide anything to your tenants tax-wise.

And you would get to indefinitely defer all tax on the gain from the sale.

@Pratik as @Neil Narayan mentioned, cash flow is very challenging due to the property values, property taxes, and soft rental market.