I would guess that a 3% max annual raise is more realistic because the socialists are tightening their grip on California and pushing for harsh laws to take control of properties etc. 

In the last few years the City of Danville has created lots of speed bumps for STR operators, so be sure to familiarize yourself with all those restrictions.

The layout was by an architect group in the neighborhood who knows all the restrictions.  

Just ask anyone who owns an Airbnb where the city is changing or implementing restrictions STR.

Of course, with all things, the answers to all these matters will depend on the circumstances.California tends to have more laws on the books and requirements and restrictions that it can be a good idea to form a CA LLC for out of state property so that you as a CA resident are covered, and to try to have your contracts fall under the purview of CA courts.

This also helps with our HERS rating.Converted Garage SpaceNew Living and Dining SpaceNew Living and Dining SpaceIN SUMIf I could do it over again, I would have chosen a location with fewer restrictions (historic and planning).

Also watch out for any HOA restrictions of course, and be aware that interest rates may be a lot higher for a non-warrantable condo - although I'm not sure how that would play out if it's your primary.  

This isn't helped by the fact that I'm temporarily trapped outside of the country due to COVID travel restrictions and are not on an easy time zone with SFO.

If you're cash restricted, get out of this before this creeps up on you.

I assume all would have to abide by the timeline restrictions if I am able to do that?