This process can be time-consuming and potentially costly but may significantly enhance your ability to use the rental income for mortgage qualification in the future.

We have several STR investor clients who've done well in these areas, like this guy in Wheat Ridge and this guy in Arvada. 

Typically in California, a Will alone is not sufficient to avoid probate - which is a pain, time consuming, and very expensive. 

STR has additional expenses like the cost of furnishings, consumables (TP, paper towels, coffee, etc.), utilities, TV/internet, landscaping maintenance, marketing, credit card fees, lodging taxes, etc.

I have some friends and family who've spent time down there.

The 50% rule states that approximately 50% of EGI will typically be consumed by operating expenses.While the 50% rule provides a quick estimate, actual expenses can vary widely depending on the property type, location, age, condition, tenant mix, and market conditions.Here's an example: if a property generates $200,000 in EGI per year, the 50% rule suggests $100,000 would go towards operating expenses like taxes, insurance, utilities, and property management.

Assuming you have two spouses who each make $300,000, your hourly rate is about $150 / hour assuming you work about 2000 hours a year.I personally think it is better to continue investing in LTR which will likely be less time consuming / stressful to STR's.You don't want to exchange something where you make $150 / hour(at work) to something else where you may only make $10 / hour.Best of luck

More important than a celebrity endorsement is a referral by “students” who’ve been through the workshop and can vouch for its usefulness.2.

This is why there can be muted market responses to actual Fed rate hikes, as the central bank often telegraphs its intentions ahead of time, to the point where the change is fully expected/estimated and thus “priced in” ahead of time.Key Economic Data Releases that Move Mortgage RatesHere are the key economic data releases that most affect Treasury yields and mortgage rates; understand these and plug them into your calendar, and you will be a mortgage rate magician in no time.Consumer Price Index (CPI)For even casual interest rate watchers, it should come as no surprise that the monthly Consumer Price Index (CPI) release is key to interest rate movements.

It’s expensive and time consuming to collect or foreclose—especially if you can adroitly throw wrenches in everything.Once you’ve done that you go negotiate.