This property is unique in that we can rent out the whole property or we can rent out the property by individual rooms because each room has its own bathroom and it runs as a bed and breakfast.

If managing it yourself feels unsustainable in the long run, hiring a good property manager could give you more peace of mind.Since a 1031 exchange or like-kind replacement doesn’t seem to be a good fit for your current situation, you could consider a HELOC if you need to tap into the equity for other investments without selling the property, although rates are high so this would eat up your cash flow.

Easy to transition this to a property manager, or even have multiple people run the account, than if the account is a personal account.

With 20 years of experience managing 30+ long-term rentals, a few STRs, and running a property management company in Central Florida, I’ve learned both have their place in a portfolio if you diversify based on your risk tolerance and the timing for your goals.

I would like to think it is worth it, and that I could run a business model that serves fewer customers really well rather than deliver basic services at scale.  

Go to AirBNB app and research which areas have the most listings, that usually means that its a HOT area and if you run it right you can succeed.  

In my analysis the cost for an ADU in kern county would run about $85K and I have saved about 75% of that right now.  

Im not running a profit generating machine.  

Each year, I like to take time to reflect on the prior year and where I’m headed in the current year.

You get an operation running well and then you can be benevolent.