I purchased existing STRs that cash flow! 

And the plan is to convert an existing Airbnb I own (and have run as an Airbnb since 2019) to PadSplit.

Quote from @Sean Gallagher: If there is an existing lease, you must honor it.

Quote from @Sami Gren: I start by making the original tenant fill out a form requesting to add a new renter, and they pay me a $50 processing fee (I charge a $50 fee any time I make changes to an existing lease). 

Four properties were existing STR's that had a permit 'transfer' and the other half were eligible properties that successfully launched with astounding success.

➡️Manage existing portfolios.

If not you might be stuck with the work and the commitment to doing it since the city would be the ruling party.

Top 3 reasons owners hire PMCs:1) No time to manage correctly2) No time to learn how to manage correcly: laws, documents, processes, etc.3) They're too nice and need someone to "save them from themselves"A good PMC can usually earn their fees by better managing the property/tenant than the owner, thereby:1) Increasing owners net profit2) Decreasing owner's time commitment, stress, headaches, etc.No matter what though, you should always plan to commit a couple of hours a month to manage your PMC.

They may take an interest.Some of those people might actually be more aggressive about enforcing existing laws.

Problem is it doesn’t exist as a “public” offering.