Cash flow (in my portfolio as a whole) covers my expenses. 

The contributions are lower so it takes a while to build, but once you do, it's tax-free investing. 

So, yes, you'll get a lower percentage of the cash flow (which isn't that high anyway for long-term rentals like pretty much anywhere in the world, including the US) but you'll get appreciation and loan amortization.b) You successfully invest in STRs and make enough money that you don't care that much about the higher taxes.To conclusion, as a foreigner investing in Spain, with a few exceptions of specialized niches, I focus on areas that have (high) capital appreciation and short-term rental potential.Hope this helps.

Putting 10%+ down with a different lender and getting lower points and interest is 100% better.

At $2450, it will cover those expenses.

CA is an expensive market and regarding tenant laws in my eyes more complicated/difficult as a rookie landlord.

In this market, I would not finance a first time flipper at 75% profit split because the profits and success rate is lower than the last dozen years.  

Open to any advice here tooI want to sell my underperforming assets to reduce expenses.

Which you want to lower?

Run the calculations on the expense of doing a refi at a slightly reduced rate vs. keeping the current loan for whatever period of time you think you will hold this house.