They were not so previously, and I am guessing the vast majority of them are not registered with the Rent Control Office.To your second question, if house was never registered for rent control, there would be no base level recorded, and I suppose a new one would need to be established once you move out.

I have formulated my own ideas of pros and cons and I want to see if they are on par with people who are already established to weigh how much I have learned. 

The returns are not groundbreaking, but the numbers work well.Once established in the area we may be able to compound success by upgrading an owned space.

This would indicate likely cash flow, but still run a more accurate pro forma using an established calculator (BP has some that are OK, but make sure you allocate enough for maintenance/cap ex).Get an inspection. 

The establishment of the legal documents will take you verbalizing your intentions and business plan to the securities attorney.

My guess is most people using the HMLs that require the LLC are not refinancing or have established the LLC enough to get a commercial line of credit with or without a personal guarantee.

My first STR is more about establishing my process and ensuring that I enjoy it, and then expanding. 

What areas to target, finding deals, MLS or wholesalers or cold calling or door knocking, contractors, rehab, lenders, property manager or self managed, establishing systems, tenant screening...  

Subtract your purchase price from your net sales price and you'll get an approximate idea of what your gain really is.If your profit is truly $400K over the $500K allowed by law then I think you're on to a great plan - move out, turn it into a rental, establish your intent to hold for investment. 

Purchase price: $318,000 Cash invested: $15,000 Sale price: $380,000 2900s sqft. 5 bed, 3.1 bath single family residence in established neighborhood What made you interested in investing in this type of deal?