We had the house appraised last month.

Downtown area, last I heard, still had STR permits available (unlike Mission Beach). 

Here is what happened after i spoke to everyone here :  It took me 4 yrs but last year finally i closed on my primary residence here in AZ..

I have an ADU behind my house that I have been Airbnb'ing for the last year (Superhost) and have been educating myself about REI over the last few weeks. 

I had a vacancy last week which was easy too.

Deficits, China selling, demographics, the great unwinding of globalization, the loss of reserve currency status.

I have a few stubborn tenants who insist upon paying in cash and I make them take the money to my bank with a pre-filled out deposit slip with my name and the last three digits of the account number and then they fill in the date and the amount of the deposit.

Our insurance 'crisis' is real, but on the mend. 8 new carriers were approved last week, but until that settles down and we see where interest rates go this summer, I would be conservative with your numbers. 

I've changed my investing strategy after my experience in the last year. 

But the value that can be added in high value markets is greater than in low cost markets.My last value add (purchased Dec 2021) was purchased off market at $2.25M and was appraised at purchase at $2.5M for the loan (so on purchase I "made" $250K).