Same goes for number of LLCs and what to fund them with, since bear in mind that CA tends to be more cumbersome and expensive to have LLCs than other states.California is generally more cumbersome than other states when it comes to taxes and filings.

This is the bear case.

Purchase price: $270,000 Cash invested: $45,000 Smoky Bear Lookout is a 4 bedroom home in the Blue Ridge Mountains near Maggie Valley NC.

I guess my cost is about wher eit should be based on what i am reading.I wonder sometimes if they see it is a multi family they automatically up the cost which technically should have no bearing.

It is unclear from the OP how much credit you can also bring to bear in case of an emergency. 

The downside is that if your tenant leaves (assuming single tenant) it's a bear to release even if it's a good location.  

Except bear in mind that the sponsor is buying at 3 1/2 cap with rents at all time highs, in a rising interest rate environment.

I'm want to be in the business of repositioning apartment buildings in less then a year and then sell it.So here my second question:What would be a quick and dirty way to estimate the ARV in under a minute (assuming you're using the maximum rent the market will bear AFTER rehabbing the units)???

So I'm in the process of picking up my first STR in Big Bear and I'm trying to decide if it's worth trying to handle the VRBO/Air BNB myself or should I just get a property manager to handle it all.

Anyone have recommendations on contractors in the Big Bear area?