@Xiaowei Li are you listed as the owner on Zillow for that property?

I suggest you contact each of your tenants currently renting at 721 to determine who all intends to stay and who is planning to leave.

I know there are many nuances in each market. 

Are these worth repairing?

Southern border of the land is Wilson Creek (a large, well established, full time creek with old growth trees)Approx 1 acre of non-recoverable flood zone along length of creekTwo small ponds on the property, which can be filled in to utilizeSmall neighborhood to East of property line with utilities ready and available for project Currently a couple of older homes and barn structures on property (100% liveable and well maintained)Wilmeth Rd is currently expanding down the block to a 4 lane road which connects to Highway 75 in McKinneyLarge developments are underway within a 1/2 mile to 3 miles out radius<4 miles to Costco, ChickFilA, WholeFoods, Cinemark, major hospitalAT&T Fiber and Atmos Gas at front of propertyA water well can be run, if desired, or tap into the city's water (currently on city water and has large main at front of property)A CE firm has drawn up plans for a small, 12 home, 3/4 acres development.

I have boots on the ground (my business partner & agent) who informed me of the rough state the neighborhood is in.

@Joel Siguaw, people who do well with anything are those who gain a passion for it.

I am not aware of them and not sure about the other , but will definitely make sure to keep a closer eye out for a spam like posts.Unfortunately, every area has spammers who want to jump in and take advantage of people.

Costs of set up of Trust, Costs to attorney to set up note, monthly costs to service the mortgage.Just my guess.My thoughts are if you have reached the level of a trade or business, then yes, these costs would be deductible.

Be careful, STR are banned in the city of Temecula and fines for violators are $1000/day and can be retroactively enforced. https://temeculaca.gov/1241/Sh...