Yes it affects your short term cash flow, but averaged out over the long run (decades) gets you a more realistic view of what your actual cash flow looks like.And what would you expect to net after fees if you were to sell these properties?

Of course they can get a higher sale price if they are willing to take on someone who cannot get a loan, or are offering better terms than current loan options.

Fixed rate long term debt is usually the goal unless you're flipping property.

I'm particularly passionate about long term rentals. 

But your goals, timelines, etc are not outlined at all.Common issues I see on these forums: everyone thinks they are getting a little cash flow, but over the long term, they are a) not getting as much as they underwrite and/or b) typically hurting long term value by creating cash flow through deferred maintenance.  

I have been doing research on BP and other places for a couple of months now and decided that buy and hold long-term rental BRRRR strategy will be best for us.

In terms of opening a bank account, most of them will ask for a local address but a lot of the online banks may not verify it. 

Yes, I'm fairly risk averse so taking on a HELOC long term is daunting.

I read their cc&r and the only thing I found that relates to rentals is a line that reads “Property shall be used for residential purposes only”But I’ve reached out to the hoa and was told “Our HOA regulations say single family home which means No vrbo or short term rentals.”I’m getting confused since I’m fairly certain that single family home doesn’t mean what they think it means.

Planning to sell two investment properties in CA and buy one primary residence in CA.Property 1 is listed and expected to sell in August to September timeframe (Around 150K long term profit, total sale price around 0.85M, no loan)Property 2 is under renovation and expected to be listed in August-September, and close around October to November (around 400K long term profit, total sale price around 1.7 M, around 0.6M loan. ~1.1 M in cash).What is the best time to buy the replacement property?