@Grant Smith This is where the title company earn their keep in the transaction by making sure that all the liens are paid off and you get a clear, unencumbered title at closing (unless you have a mortgage on it, in which case the title will be voluntarily encumbered) 

We are in Cali, both earn decent W2 and just started out investing in 2021.

Very good takes here on this thread @Matthew Kwan @Carlos ValenciaI think whether you're looking to approach real estate as an investor (owner operator) or as a business or active cashflow (operating business like flipping/fix/turn keys/wholesaling/RE agent/broker/lender/etc) it will vary some of the replies here are from people operating businesses and some are from BRRR/House hack investors who are starting out.Somewhere in between will lie your fine balance between both.For myself i've generated earnings and income through lending and have reinvested them into real estate in a market with rental income and value upside by buying lower than "as is," or intrinsic value when I can and improving that value through upgrades, rental raises, and added services.

I have my primary where we have lived for 20 years and could sell it and get the tax free earnings from the appreciation because it is my primary (no need for a 1031 exchange on the sale of a primary as I understand it). 

While condos can offer a cheap way to invest in vacation rentals finding a unique property will be a great way to earn higher yields.

On top of that, it's even less likely you'll have  good return on equity.I would sell and take your earnings, otherwise it's likely you'll have to subsidize out all the money you've made in a negative cash-flow deal. post the numbers.

@Miyoshi A Peak, you keep seeing terms like "creative finance" but the reality is these deals are far rarer than traditionally financed deals.

STR units provide competition to hotels, especially during peak seasons/festivals/major events, which redistributes profits from hotel stakeholders (who are often not local) to locals.

An ITIN does not authorize work in the U.S. or provide eligibility for Social Security benefits or the Earned Income Tax Credit.

I earned my money.  ;^)Because I was there for my buyer throughout the process, she is my best ally in gathering even more buyers, and is a fantastic reference for me.