Many buyers won't offer sight unseen, and it increases the chance of a property falling out of contract during the inspection.

In this case a good system should help you reduce the risk of bringing in costly tenants.

In person its a place I could see maybe doing an investment or two in but its not where I really want to set up shop (I mean that literally; set up a home and also set up a wood shop - so I can build custom cabinets and stuff).If Santa Cruz, CA ever goes on sale then I'll go there and suck it up with CA laws and cost of living, but for the foreseeable future it is not even a remotely viable option; I looked at a fourplex there generating $10k in monthly income and priced at $2,700,000. 

If you could configure the bedrooms to be able to sleep 8-10+ people, your ADR could increase even further from there.However, if you go the STR route, make sure you factor in the time commitment it will take to manage the property. 

We have about 9 months of housing supply, and this is expected to increase in the coming months.

But intend to keep your word to the seller by making their payments at all costs or selling the wrap for a high enough price to pay off the underlying. 

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

@Jorge AbreuDo you encounter sellers who are hesitant of carrying paper because they don't know the buyers, or are the 30% who agree mainly focused on the increased price?

Hey Sean, I would first look at the cost of the loan.

I also own properties in landlord-friendly states where there's no rent control, so I don't need to pay someone to leave in order to increase the rent.To address the other points in your post:This is why having a proper purchase and sale agreement is so important.