Changing property managers can be a challenge especially when the current company is not doing right by you, with no real sense of responsibility for the people/business they're impacting.

That example illustrates that the size of an investment when paired with correct (or wrong timing) can have an out-sized impact on the returns of the same investing idea.

This implies that a RE with an ADU where you live in one of the units has less risk of having income stream impacted from STR regulations.Good luck

An Annual Permit: In Monroe County an owner or agent is required to obtain an annual special vacation rental permit from the Planning & Environmental Resources Department for each dwelling unit prior to renting any dwelling unit as a vacation rental unless an exemption to the vacation rental permit has been issued for the property as provided in Section 134-1(b) of the Monroe County Code.Initial Special Vacation Rental Permit Application Fee: $490.This application and fee is for initial applications only, not renewals.Renewal of Special Vacation Rental Application Fee: $100.This application and fee is for renewals only.NOTE: A special vacation rental permit is nontransferable between owners.

If I were to find a way to lower costs by 10%, which would be extraordinarily hard to do without cannibalizing some part of operations that would negatively impact performance, I'd save about $4,000 per month.This is savings of $48,000 per year that would flow to the NOI.

@Craig Oramfor $550k,, you could buy an portfolio deal from a turnkey provider or roofstock that comes with PM a multi family loan will be considered a commercial loan so will not impact your ten loans.a multi family syndication is also possible with a min $50k participationso a lot of RE possibiities

@Michael Greenberg, Sonoma has become so known for being a travel/tourist destination, they started limiting the option to have an air BNB due to multiple complaints from the local homeowners and residents about the amounts of traffic and other areas that had been severely impacted by all the visitors.

It really isn't that much of an impact on the housing market around here. 

Did the appraisal impact your goal?

(Yes, I will be backing into my goals) but I also want to review how leveraging will impact my cashflow over multiple rentals etc.