This is an essential habit of successful landlords.

The suits have around 40% chance of eventually collecting, we've used collection agencies before and their success rate was around 15%.

A lot of your STR success will depend on you, your systems, your rules, and your common sense.

My 2 cents.Location is always the number one factor in success.

Just like when we're looking for the right property and how we need to negotiate, waiting for the right priced house to come along it's important we show that same patience to our family and especially our kids.My daughter was giving me pushback about something last week and when I told her No she lost it.

Have you seen success with that? 

Investing in REITs through stocks or mutual funds provides exposure to real estate with lower capital requirements and less hands-on involvement compared to direct property ownership.Continuous Learning and Skill Development: Invest in your education and develop skills in real estate investing, property management, finance, and negotiation.

Anyone out there invest in STR in California around the Bay Area and have success?

Has anybody been successful partnering with a GC to sign off on permits and have preferred subs available for trades? 

We have been successful here in the past here with 7 days cash and no contingencies (and a good reputation of closing).https://www.zillow.com/homedetails/695-Earlham-St-Pasadena-C...