. ==== Projected Income ====**Off Season**-$4,000/Month Rent Period: September - May (7 Months) Projected Income: $28,000**Summer 1**-$8,000/Week Rent Period: June (4 Weeks)Projected Income: $32,000**Summer 2**-$8,500/WeekRent Period: July-September (12 Weeks) Projected Income: $102,000**Optional** (Basement Apartment)-$2,000/Month -Rent Period: Year Round Projected Income: $24,000TOTAL PROJECTED INCOME: $186,000 ==== Operating Cost ====-Mortgage: $84,000 ($7,000/Month) -Utilities: $36,200Gas $6,000 ($500/Month) Electricity $6,000 ($500/Month) Internet $2,400 ($200/Month) Garbage $5,000 (Estimate) Pool $4,000 ($250/Week)Landscaping: $4,000 -Mowing: $2,400 ($150/Week)  -Clean Ups: $1,600 (Spring & Fall)-Weekly Turnovers: $8,800 ($550/Week)==== Legal Cost ====Summer Rental Fee: $20,100 (15% of $134K)Sandwich Rental Tax: $6,855 (15% of $45,700) NET PROFFIT: $38,845.00

We travel for work (healthcare) and chronically live out of MTRs, so it will be our first time operating a shorter term, but won’t be an entirely foreign situation to us.

@Ryan Rubel There are certainly quite a few restrictions in those two areas, in Carlsbad you have to be within the coastal Zone...I have a multifamily in Carlsbad Village a block outside of the coastal zone so I'm unable to operate it as an STR unfortunately.

I feel like it's a space where great operators can really clean up, since the bar is set really low, in my experience at least.

I operate out in Southern California.

Even really skilled operators are left with no back up plan because they can't pivot to LTR in that market, can´t fetch the price they paid because the STR has lost some steam and was bought using nightly rate numbers etc.

They usually sell for a really attractive price because investment property financing is (obviously) difficult, somewhat limiting the buyer pool to owner-operator small business owners (who in turn are typically great clients, as well).  

@Patrick Pan, if I was operating in a state where that was a concern I would just contact their current landlord for a reference.

I’d love to hear more about how you approach finding these under-$2M properties and what strategies you’re implementing for operations optimization.

You can certainly own multiple assets in the same LLC, but I would be careful about operating a business and owning other real estate or investments in that LLC.