I have dealt with many of these in the remodeling business.

Okay I don't do much business in California so I've never come across this before. 

You will see that they went out of business.

@Stephanie BaronCongrats on jumping into the Landlord business. 

The alternative is, do you have a co-signer or business partner?

Who knows...perhaps we can do business one day. 

You are in the STR business to make money, not to show a loss. 

This entails dedicating a significant amount of time and effort to the short-term rental business.

While I appreciate the compliment, the situation is quite difficult because they paid way too much basing their price (and business plan) on an unobtainable reality.

who is sending you a check.. and if they did wait for it to clear the bank before you buy anything or start any work.in the future insist they WIRE the money straight into your business account at the bank thats the safest way and how we handle all our draws.. with the exception of our Oregon sub contractors who bill monthly and keep in mind we are building a lot of houses so it 400 to 700-k a month in draws.