I actually just got back from a visit to LA where I'm originally from.

@Doug Pretorius I was actually researching this subject lately.

FINAL NUMBERS:- Projected Costs: $380k ($357k in build cost & $23k in soft costs)- Actual Costs: $389k ($369k in build cost $20k in soft costs)Note: We had very minimal carrying costs because we utilized a CA HELOC with Premier Valley Bank that had a 2.99% introductory interest rate.- Projected Finished Value: $750k- Actual Finish Value: I think between $800-$850k, not sure yet.

It actually took 4 months to move in.

Are the tenants actually paying on time ? 

The bookkeeping aspect can be the most challenging, frustrating, and crucial pieces to any business.

Assuming this is an off market deal with no realtors (or the seller would actually have to come out of pocket almost 10% to “sell”.  

Unfortunately, no one can actually answer this without looking at the title and the foreclosure proceeding. 

You will likely need to look at many houses before actually closing on a deal.

Hating that Airbnb owns the STR market is not the same as having actual power to meaningfully break away from it.2.