In general I am anti-arbitrage but for something so unique it may make sense. 

Last year was the first and only year we had a negative cash flow, and that is driven by the anti-landlord west coast sentiment.  

Furthermore, California has a very anti-landlord and anti-real estate investor government that can cause you all sorts of other problems as well. 

Short-term rentals are becoming oversaturated in certain markets plus anti-STR legislation is resulting in some of those properties also converting to long-term rentals.You already have the operations experience by self-managing.

The seller setting the amount is illogical, and anti competitive because they set the amount under the threat of a group boycott if they offer too little. 

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The department of justice filed a request to eliminate the comp agreement requirement due to possible anti trust violations.  

Now i am capped at the rent increases i can provide to encourage them to give notice (one reason it is important to keep rent near market rent) and i no longer have the option to not renew their lease.there is a reason spa very large percentage of economists are anti rent control.

If a landlord needs to enter a property for an inspection or repair, a two-day notice is required.Our Governor passed anti-squatting legislation a few months ago which allows owners to have the police remove them as opposed to before where it was considered a legal issue for attorney's to deal with.

Most of her Chicago landlords do not charge a deposit since the anti-landlord penalties can result in paying triple back to your former tenant for some minor infraction.