And given that many syndicators that offer paid mentorship cost in the 10s of thousands, I would just be very clear with each group you talk to on what you are needing versus what they actually offer.From the bits I have seen about a lot of people's mentorships (to be clear I have not gone through any), they cover market selection, basic underwriting, some marketing, basic legal compliance items.  

There is an unfinished basement which will likely be permitted to convert into an ADU but might trigger the installation of a fire sprinkler system ($30k).

I did tell them that I would take the states off since I did not know it was a compliance issue (even though there is no specific requirement for business purpose loans on the NMLS website), and despite my efforts of only promoting myself as a CA lender, I got on the waitlist to rejoin since there are so many lenders joining the program apparently. 

As mentioned above it depends on the metro but I would make sure I was comfortable with the LTR rate before pulling the trigger on an STR. 

In general, the NMLS should be your compliance/regulation guide, as it compiles tons of state-level requirements.

The risks, such as triggering a "due on sale" clause and complicating your taxes, often outweigh the benefits. 

Compliance with.

@John Bertolon we’ve noticed over the years that any decent rent increase triggers “stupid-trip” repair requests, change of owners or not.

We are probably going back into acquisition mode here shortly but want to shore up things before that happens.I also spent the last few months building out a centralized notion to manage all the document, to dos, etc but have pulled the trigger on VAs as the cash flow isn't there yet to support someone full time.

Which CAN trigger the due on sale clause.