That business model also tends to require being extremely hands-on, which seems at odds with the lifestyle goal of replacing a stable job.So if someone truly believes running around managing low-value homes is a better long-term life choice than a reliable W2 job, then by all means go for it—but it’s not for most.Another way people replace W2 income that may be more realistic is by getting involved in real estate with more meaningful fee potential, which usually means heavier construction-oriented development.

I think the biggest challenge with STRs is the initial setup and development of systems. 10-15 hours a week is more than enough time to manage your STR once you have all your systems in place (think cleaners, guest messages, house turnover, pricing management, etc).

Groups that move quickly on large land plays usually include experienced land developers, family offices, private equity real estate shops, or institutional-leaning partners who already have dry powder and a track record with entitlement risk.

Civic INVOLVEMENT. 

When they don’t fund it makes me look bad, my broker and anyone else involved.

You’re right: serious developers don’t replace pre-app meetings, civils, or title services with software.

I'm an agent and investor/developer in Los Angeles so I really understand this pretty well!

When investing in high cash-flow markets, I always recommend working with an investor friendly agent so you're able to gain the right insight into the different areas and the risks involved.

Certainly unfortunate for the tenants and LP's involved.

One commercial loan product that has become increasingly popular among investors and developers is bridge financing.