If you're in LA, the most logical area in my mind is Las Vegas for a lower barrier to entry, strong appreciation, much more favorable landlord/tenant laws, still close to LA, etc. 

Better than the alternative of having a line of credit at 12%, the 2-3% hit in spread is lower than a 5% increase in cost of capital in my opinion.

Understand Closing Costs: Be prepared for closing costs, which can be 2-5% of the purchase price.7.

DSCR is a business loan and the property can be held / closed within an LLC. 

I assume these production companies have started their own financing companies and have deep pocket investors with them.We are still busy, when other companies are not, but if we were able to do our own long term financing at a lower rate than the banks than we would only be a stronger company.

What stuck out to me was their data driven approach to multifamily,  their emphasis on asset management, and the lower (financial) barrier to entry. 

I have been doing a lot of research into where we might buy another STR and was looking at Big Bear Lakes, CA because it is very close to a downhill MTB park and my kids race DH and have always wanted to get a place close so we can go spend a few weeks there whenever we want. 

This can help give you an idea of what what type of rate you could get for your house.It's also a plus that your close to Randolph AFB too. 

Here’s a detailed breakdown of these two types of markets and the factors that contribute to each:Cash Flow Market, a cash flow market is one where rental income exceeds the expenses of owning the property (mortgage, taxes, insurance, maintenance, and property management), resulting in positive monthly cash flow for the investor.Key Characteristics:High Rental Yields: Properties typically have high rental yields compared to their purchase prices.Stable or Slow Appreciation: Property values increase slowly over time, if at all.Lower Property Prices: Generally, property prices are lower, making it easier to achieve positive cash flow.Higher Rental Demand: Strong demand for rentals due to economic factors, demographics, or local employment conditions.Factors Contributing to Cash Flow Markets:Economic Stability: Stable job markets and steady local economies that support rental demand.Rental Market: High percentage of renters compared to homeowners.Affordability: Affordable property prices relative to rental income.Local Policies: Landlord-friendly laws and regulations.Appreciation Market, an appreciation market is one where property values increase significantly over time, offering substantial capital gains upon sale, but rental yields may be lower, resulting in lower monthly cash flow.Key Characteristics:High Property Value Growth: Significant annual increases in property values.Lower Rental Yields: Rental income may not cover the monthly expenses, leading to lower or even negative cash flow.Higher Property Prices: Generally higher property prices, which can make it harder to achieve positive cash flow.Strong Economic Growth: Rapid economic growth, population influx, and development.Factors Contributing to Appreciation Markets:Economic Boom: Strong local economy with job growth and high-paying industries.Population Growth: Influx of people moving to the area, increasing demand for housing.Infrastructure Development: Significant investments in infrastructure, amenities, and services.Desirability: High quality of life, good schools, and attractive neighborhoods.I hope this information finds you well. 

It looks like you live close to your rental… I would say, “why not manage it yourself?”