All,I own a 4 bed 2 bath single-story single family home in the Sacramento area—this I have rented for the last few years. 

If you are considering a 1031 Exchange, 2023 may be the last year to do it.Hope this helps,…Eric

Nikki I'm new to STR investing but not to spreadsheets and I must say yours is VERY well done and far above the others I've collected in the last few weeks. 

But thats a win in my book given that supply of STRs has more than doubled over the last 2 years in Coachella. 

Revenue last three years, NOI last three years.

Lastly, it goes without saying that I'm not an attorney.

This was a corner of the universe one had to be careful in before it was overrun with scammers and inexperienced operators over the last 10 years.If one wants to be completely passive there are highly regulated stock market offerings they can put their money into.

Lastly, no sign can be within I think 1000 feet of another sign or I think 500 feet of a residence.

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+, zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680, some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

In most cases, this is enough information to figure out if you have a deal that is going to benefit the client and make sense for them (this is assuming you can get an estimated value of the home you'll be refinancing through other means, otherwise, you might also ask them for their estimate as to what their home is worth).If you're past this point of figuring out whether it's a deal that makes sense for them and you haven't run automated underwriting to determine what documentation is being asked for, here's a pretty standard list:- 2023/2022 W2s (any/all jobs worked during these years, regardless of how long they were on the job)- Most recent mortgage statement for the loan(s) you'll be paying off- Copy of their homeowner's insurance binder or contact information for their homeowner's insurance agent so that you can request this on their behalf- Most recent pay stubs covering 30 days (typically this is the last two pay stubs)- If the property is in a homeowner's association, you'll want a recent HOA statement showing how much the borrower pays for their HOA dues- Copy of the borrower's driver's license or ID card - front and back- If your deal requires an appraisal, you may want to get payment information from the client now.