Get a permit too, you'll lose money if you don't....

After filling out a permit wrong we triggered a city of Boston ordinance of having to require a sprinkler system put in.

After filling out a permit wrong we triggered a city of Boston ordinance of having to require a sprinkler system put in.

I recommend new investors treat BP like a college course.

I want to focus in areas around colleges and lean towards student rentals to begin with.

If the appraiser is diligent they can catch more, such as an addition with permits (happens frequently).  

We also plan to use our primary residence as an STR once the kids leave for college in six years, and we start spending more time in Southwest France.2.

I'm currently in a live-in flip in College Grove and will be looking to purchase a MFR or SFR later in the year. 

I read about a college student that did something similar with trailer houses and he was a multi-millionare by the time he hit 30.

Even beyond the markets you mentioned (Mammoth Lakes is not easy to get a permit FYI), here are others near you that have decent to favorable regulations supporting non-owner occupied STRs:Palm SpringsFullertonHuntington BeachSanta BarbaraJoshua TreeMalibuBig Bear LakeNewport BeachFeel free to DM me if you want to jump on a call and figure out the best bang for your buck.