By the math of it, CA is making it impossible for carriers to operate in CA areas of fire risk.

Greystar Real Estate Partners, one of the defendants, released a public statement claiming they operate with “utmost integrity” and will vigorously fight the allegations.

Operated as an executive high-end rental for 2 years and cash flowed nicely while rented.

We'll go check out the operations. 

I started operating the property in mid-2023.

Hello @Yvonne Wang,The scope of work should include the following:- Basic info: Property address, client name, contractor's contact info, address, license#'s, signed general/operating agreement b/w contractor and client- Specification of repairs: Repair item, Quantity of items needed, total & per unit cost of items, taxes (if applicable), Completion hours, title of the person responsible for the repair item, written summary describing the work- Add'l info: Schedule of repairs, additional payment schedule details i.e. disbursement schedule, method of disbursement, deposits, holdback amounts, etc.The screenshot below highlights a couple of repair items.

I think some min level of regulation benefits everyone, including wholesalers who currently operate in no man's land. 

One thing I always remind people is it does not matter what is on a powerpoint presentation, the deal is dictated by whats in the PPM, operating agreement and subscription agreement. 

I’d love to hear from fellow self-managing landlords about the biggest lessons you’ve learned along the way—whether it’s handling difficult move outs, maintenance strategies, or unique ways to streamline day-to-day operations.

There are more passive ways to invest in real estate than "turn-key" real estate and achieve those types of returns, but you will need vet the operators and get educated before jumping in.