And your GC should have a major hand in preparing this document....no homeowner will have the knowledge to know exactly what to do.

I once paid $10K to a coach long before I was mentally prepared for real estate.  

I would definitely save time and money and be faster at preparing contracts. 

It will attract folks that are legitimately interested so you can focus on them instead of spending a ton of time cold calling and direct mailing - which does work but you have to be prepared for the long game in that space.  1 year and 7,000 DMs later you might get one owner financed deal

What are some strategies and things I could be doing now to help get prepared for when I am ready to start investing? 

You can follow up after the actual transfer of property with your own letter or notice, referencing the introductory letter/notice, and providing additional details on how/who to contact for maintenance, payment info, etc.Your follow up letter might include instructions to schedule/prepare for an inspection within the next 10 days, so you can inspect each unit and ask about unresolved maintenance issues, ownership of appliances, vehicle information, etc.

The updates include:Published STRO Implementation timeline:October 3rd, 2022 – Application Period Opens for all STRO license TiersNovember 30th, 2022 – Tier 3 & Tier 4 License Period ClosesDecember 16th, 2022 – Lottery conducted & hosts notified of the resultsJanuary 6th, 2023 – Tier 3 & Tier 4 License Fees DueMay 1st, 2023 – STRO Ordinance Implementation DateA few things we have been concerned about and are preparing accordingly for are: What are our chances of getting a Tier 3 (Pacific Beach) or Tier 4 (Mission Beach) License for short term rentals?

I would also recommend him to prepare to answer questions such as, how much are you looking to borrow for the property and for the renovations?

I wanted to call her but wanted to be prepared with the possible scenarios which is why I posted this. 

If this all sounds good to you and you are prepared to manage your own properties, then yes, the returns can be pretty lucrative.