You can't base it off purely a dollar figure.  

@Chris Mason so on the other side, if the next property is purely investment then the non owner occ math applies?

Converting to personal ownership to an LLC is purely for liability limitation.   

I spend hours a week having lunch/coffee/drinks with prospective investors who are looking for advice or want to pick my brain.  

So the state then has to deal with consequence of bad laws that was based purely on popular demand.There are significant public safety implications with using SFRs for STRs... a residential SFR building may not be up to code for use as a hotel.

If you and anyone else on this forum want to go out for some drinks and bounce ideas off each other I'm all for it!

I would prefer to sell houses purely at my own discretion; maybe only for friends and whatnot.

Second most important is REI being long term play unless you are purely in flipping business,requires much more of personal involvement to be successful.

I'm fixing up my unit and will move out soon and get ~$1100 which will be pure cash flow.Just keep it up man!

As an agent getting calls about a listed property, a wholesaler, let alone a new one, is pretty easy to spot, if you know they exist and how they work ....and when that happens, yeah I'll require a POF upfront, as opposed to what seems like a real buyer, then maybe the POF comes later, with the offer......purely a judgment call on the agent' part, and apparently in this case a good one.