Nightly rates and estimated revenue based on all the other units in the area?

Look at all of the costs and then all of the revenue and make a decision based on that. 

Without a firm base and working familiarity with these three areas the investor will not have the knowledge to analyze, negotiate and close advantageous real estate transactions. 2- Experience - the first few deals are likely to be smaller, harder, with more “surprises” and not as profitable as the investor imagined.

The rule is based on if it's "within the primary dwelling unit" of the taxpayer or not. 

I think the most I could possibly get monthly out of the property is 1000 based off of rentometer, zillow, and BP.

However, weighing your options and performing due diligence carefully based on your specific circumstances, the property's potential, and your long-term goals.

Be aware of California taxes that will hit you in their other funds based on your income level.

That also plays a major role in what to do. end of day stocks and real estate over time provide the same return on average - so it is really based on the individual, their experience and desire Thank you. 

I don't know how to post documents to my profile yet or if that's a thing but I just made a 4 page ASR package based off of another site.

 @Deepak Malhotra based on your sales price, I assume this was also sold many years ago.