Fast forward to today and one of those existing STR's has become a nuisance to the neighborhood and so the HOA board is planning to ban all STR's using what they believe are provisions in the CC&Rs to justify it and have consulted an attorney to validate the legal standing on implementing this ban.The CC&Rs were written in 1998 (before STR's was even a thing) and have these sections being cited by a couple members of the board as justification for banning the rentals (note there is not anything explicit about STR's in the documents)Section 1 – Single Family Residential – states in part, “… Lots… shall be used for no purpose other than residential purposes.”

With such poor opposition, he still only received 50.4% of the vote.I personally think Mamdani is going to face big hurdles implementing his desired policies.  

IMO depends on your investor DNA--most likely going to get more bang for your buck on a hands on strategy...but remember sanity is a currency too--if you're looking for some passive strategies, happy to share what I've learned--if I could start from square one again I'd implement the Rockefeller method x specific Turnkey--check out Ryan Lee & Garret Gunderson 

From there on out, I would like to implement the BRRRR strategy.

(Amongst other ways to structure).You can always buy them cash but leverage can be an important part of scaling when implemented correctly.

I appreciate the reminder to prioritize capital reserves, proper training, and risk management before implementing any creative structures.

Investors often spend significant money on entities and insurance policies without ever putting in place the systems required to make those protections truly effective.Real protection begins with understanding where liability most commonly originates in daily operations and proactively implementing contract and risk management systems that shift exposure before a claim ever occurs.

If it's "owner-occupied", there are more stringent rules with respect to the underwriting guidelines.

I think it is more of a case by case basis and really depends on several things, including:The level of competency to understand and implement the system in house or outsourcedYour timeline and how much effort you're willing to put into itYour budgetYour goalsOther systems you're already using that you may want to integrate withFeatures you may requireSimplicity vs capability, sometimes there are tradeoffs between systemsetc...Depending on a combination of the above as well as many other factors, one solution might lend itself more to your situation than others. 

First, verify true market rents per unit and implement legal increases at renewal; consider RUBS to shift utilities.