I have not hired a property management company and probably won't until I have enough units and solid process to hire a w2 manager that reports to my company.

Great points, Jeff — and you’re right to highlight that the expense ratios are unusually efficient for a coastal STR.A couple of clarifications on the numbers:The current owner self-manages, which keeps cleaning and maintenance costs lower than a third-party STR manager would typically charge.Some of the repairs and CapEx were front-loaded in prior years (new flooring, appliances, and paint), so last year’s P&L reflects more of a stabilized-operations scenario.The utilities figure is accurate — it’s higher due to being master-metered for the property — but the other OPEX categories are slightly understated if you were to underwrite this as a fully managed, third-party operation.If I modeled it using a professional management assumption plus normalized reserves, the operating ratio trends closer to 48–50%, which aligns with what you mentioned for coastal STR multifamily.I appreciate you calling that out — it’s a great reminder of how much variance there can be between owner-operated and institutional-style expense reporting, especially in hybrid STR assets like this.Here's the owner's profit and loss statement for the exacts of the 2024 year.

You may have a different attorney who specializes in these various categories.

Where I have been successful in say the last 20 years in obtaining “deals” has been in two categories.

I have had major issues with several loan servicing companies and don't mind naming them here: Shellpoint/ Newrez (terrible!)

Such attempts to silence individuals with legitimate financial grievances further erode public trust and raise serious ethical and legal questions.Furthermore, your threat of a lawsuit appears to fall under the category of a Strategic Lawsuit Against Public Participation (SLAPP) — a tactic designed to intimidate individuals into silence rather than address the underlying facts.

Hey Bee — I get where your frustration’s coming from, but it sounds like there’s a bit of confusion about that 3% sale coordination clause.If your client’s property management (PM) company has a standing management agreement that includes that fee, then it’s not “sneaky” or “hostage-like” — it’s a contractual right that your client agreed to when signing with them.

Generally companies like credit unions, lenders who specialize in conventional loans and big banks are not the best for DSCR terms since they generally may not be selling off their loans at the end to replenish their cash versus DSCR lenders have investor pools that are buying the newly closed DSCR loans and that replenishes the cash for new DSCR loans.

General bookkeeping categories and a standard chart of accounts simply do not meet the needs of real estate investments.

San Antonio, Texas has clear permit categories and designated STR zones, reducing uncertainty.In these markets, compliance is a normal operating cost, not a constant fight for survival.Markets Where STRs Face Increasing ResistanceThese are markets where regulations have already tightened, and the political momentum suggests they could continue to tighten further, making long-term STR operations uncertain.1.