From what I've read in the forums, the consensus for STRs in LA seems to be "Don't do it!" 

I knew it was a risky bet as Baltimore has much crime and systemic issues they can't seem to overcome.

In addition, it would seem that you would lose the stepped up basis at death if you are on the title.I suggest you consult a CA profession tax consultant and possibly a CA probate lawyer.  

It seems to be using the 50% rule to determine the annual cash flow.

He has been working on properties his whole life so he’s a great resource and partner on getting the work done but as this is my first purchase and reno, I am looking for a few suggestions on finishes so I can finish working out my numbers.The house was bought from a local investor who seems to have run out of money and was offloading about 3-5 properties in my area.

I can't seem to find anyone locally who will answer Facebook messages or phone calls.

As someone new to selling property, I had expected to pay around $5k, so this figure seems quite high to me.Also, I've already scheduled to sign the closing documents on Monday, April, 8.

I've used their credit and background checks for years without issues except for one fraudulent tenant/application.I have noticed on most of the applications I don't see anything pop up for the background check but the credit check seems pretty thorough.

Good luck with the project.It supposedly has a very high 'pigment count', seems really good.

@Malik Elate$3000 Closing costs seem a little low.