If you are using an accounting software, it is impossible for the assets to not agree with the equity / liabilities.Did you factor in everything from the closing statement(such as pro-rated rent, closing costs, lender fees, etc)Did you use a PM company, if you did, did you factor in incorporating the PM Statements.Again, if you are using an accounting software, and factoring in all the transactions from your bank account / credit card, it should not be off.

In my models, I have expenses (less mortgage payments) track the same number so I find the total rate of return to be relatively insensitive to this number.

@Liran AferganWe do medium-term rentals in our own rentals in Colorado Springs and Denver (and work with a lot of investors doing mid-term rentals), and the rental rates are more like 1.3-1.5x that of long-term rents.

It's fully rented at the moment and has a cap rate of 10%, which seems promising.

Most of the funds have a structure with pref rates and good performance split.

The 70-80% fail rate is discouraging, but I've seen that on other posts as well, so I won't let that scare me.

Thus, a higher conversion rate. 

Some easily verified facts:- San Diego appreciation has been great - San Diego rent growth has been great- prop 13 protects against exorbitant property tax increases- San Diego has one of the lowest eviction rates in the country- San Diego has one of the lowest delinquent rent rates in the country- San Diego has a very low vacancy rate- historically for long holds, San Diego has produced near top in nation return.  

To thrive, begin by studying the nearby real estate market, grasping property values, rental rates, and vacancy rates.

Also, it may be smart to consider the differences in the rental rate if you were to decide to shift strategies to an STR or LTR one day.