My intial thought when I read these requests is that my risk profile would be completely different than a long term tenant.

We found that this business just wasn't what we thought it was going to be, so we brainstormed on other ideas where we could house individuals that really need and want assistance.

By reaching out to the city beforehand, you can ensure that you are prepared for the renovation process and avoid any potential complications that may arise.

Thanks for taking the time to share these thoughts and get people thinking about how to truly run their STR like a business!

Plan on this being a live in renovation, ultimately preparing for the fall semester in August when tenants would move in. 

I have a couple of thoughts - #1- how do you know your real estate agent is working for you?

Looking for some thoughts from the community as this will be my first exchange and I'm trying not to misstep just because Im eager to get out of the LA property to avoid renting it. 

I thought I would see what the actual rates were and it is pretty high.https://www.neighborhoodscout....It isn't as bad as Seattle, but it isn't far off statistically. 

I thought I did my due diligence on both but if I missed something please share.

Depending on your amount you may want to consider a debt fund too as its less work and your money is deployed/paying you interest so you do not have to keep finding deal after deal. just some food for thought