They wanted money, I wanted their product.

Like everyone said.Grab up @Avery Carl's first book - https://store.biggerpockets.com/products/short-term-rental-l...Then grab her next book which is available for pre-order - https://store.biggerpockets.com/products/smarter-short-term-...Seeing as you are new the STR business, these are great books to grab up and read.

One theory is that the investors see population increasing in these areas and are willing to deal with the ridiculous local laws This actually isn’t even necessary true, the placest with the biggest per capita housing production or “investment” is in the sunbelt, the expensive cities produce a shockingly low amount of housing, obviously zoning laws play a huge role in that as well, but even when you looking up institutional investment in existing properties it’s mostly in the sunbelt, most people who own big buildings in hcol areas just bought them decades ago when they were much cheaper, even D.C. has has like a 4-5 fold increase in value in some areas in the last 15 or so years.

CA state license board requires warranty on materials defects & labor

If you find a lender/mortgage broker that communicates very well and in a very time efficient manner start there to see if they have a product that works.Most of the lenders we have worked with in the past we have done multiple loans with.

Looks like you have a solid plan, compound interest will take care of the rest.Can i ask what mortgage product you intend on going with?

Buying distressed & fixing yourself gives you the full intel on the quality of your product, buying 2 rather than 4 you can pay for better locations, then having reserves gives you a healthy peace of mind.

Increasing your construction budget by a small amount can have an enormous impact on your overall construction budget, productivity and site safety/insurance premiums.

Anne NHi Anne,I haven't seen any DSCR programs specific to Sober Living, however, we've closed Sober Living deals with a no-DSCR product.

Yes, it could be the signs of a certain personality defect, but it just as likely could be the sign of a young 20 something being "young n dumb" making poor choices.