Hi Carlson, typically this time of year is the worst time to rent units, however I’ve had some pretty good success with winter time leasing because I’ve certain methods that I’ve employed in order to get rentals rented fast and then managed efficiently.

College counts as part of your 2-year history.Regarding hiring a PMC, if this is your first property period and you are working that many hours, I'd comment that you have two options:1) Hire a PMC2) Buy a duplex and live in one side, so you can be more hands-on and available.Otherwise, I don't see this going well for you.

I assume you are outside of your due diligence period since you're at risk of losing your earnest money?

You're paying someone else for that luxury but it does nothing for personal wealth building.Lenders require 6-12 months seasoning period for a cash-out ReFi.

Offer price: $170,00020% conventional, 30 years, assume 4.5% interest for rental propertyAssume down payment, closing, minor fixes = $40,000 cashMortgage & Interest: $689Property Tax: $218HOA: $241Insurance: $60Property Management: $100Maintenance: $50 <-- efficient ~1,000 sqft condo, HOA covers all exterior (also water and basic cable)Vacancy: 8.33% ($131)Total average monthly cost: $1,358Total average monthly cost w/ vacancy factor: $1,489Expected rent: $1,575Averaged expected cash flow: $86 w/ vacancy impact; $217 w/o vacancy impactCash on Cash: 2.58% w/vacancy; 6.50% w/o vacancy <-- how does that "feel" for California?

Even though a majority of the custom homes I did wanted tankless because they were cool and green....Most tanks last far longer than the expected 10 years and the new ones are very efficient.....Did a search ...https://www.consumerreports.or...Main takeaways are: 1) they are very close to the same cost to operate per year 2) the payback time on the tankless is about 25 years.....Plus tanked heaters are a good source of water storage in the event of an event like earthquake or such.....

What is the month to month notice period in your lease? 

On Jan 10th (this is the grace period we give this particular set of properties) he didn't have Jan rent.

Some of the challenges:1) Pairing clients with properties that with an affordable plan yield the results the clients need2) Get the property into contract in this aggressive sellers' market with strong STR property buyer competition3) Deep due diligence to minimize property risk during inspection period + create best COE plan to yield the highest possible cash flow + start scheduling post-COE reno work4) After COE, get the hot potato moving- help in any way necessary to make sure my clients get this work done quickly and without complications so they can get their property on the rental market ASAP and start generating cash flow.5) Occasional STR audits as requested (always an option) by clients, to further boost their cash flow, and effectively their home value- based on income approach.

@Brian Kempler In my area (Massachusetts and New Hampshire) Most banks have a 6-12 month seasoning period if you're looking to access the after repair value (ARV) of the property.