I have often heard that if you do not do instant book / easy cancellation then you get less boost from algorithm.

9% - 11% performing. 

Actively performing plumbing work for remodels, new construction, and commercial projects qualifies as a real property trade or business under the IRS definition, as these activities fall under construction or reconstruction.

When you’re sourcing notes, what criteria do you prioritize first — location, performance, or equity?

That said, two units, whether a MIL unit, ADU, DADU, or Duplex, is definitely the way to go - SFH's without the second unit rarely perform well unless you do rent-by-the-room or something else creative, which is tough to scale and a lot of hassle.2.

Ideally someone who understands the local STR market, zoning nuances, and can help identify high-performing properties.If you’ve worked with (or are) an agent who specializes in STR investment properties in the area, I’d really appreciate your recommendations or introductions.

I would definitely learn how to use Pricelabs to develop a compset and see how other homes are performing. 

I agree with Jason - there has to be enough skin in the game to bait an investor - BUT also remember that depreciation provides a paper loss that shelters rental income from taxes, boosting after-tax cash flow.

Quote from @Barbara Johannsen: When you purchase a performing note, how do you estimate the future buyer market if you want to resell later?

By definition all 44 contractor classifications have passed the state exam and adhere to the laws of the CSLB & Consumer affairs.Any handyman performing work over $1000 is in violation of Business & Professions code 7028.1Any handyman performing work over $1k is subject to forfeiture of the entire sum of "contracted" work B&P code 7031(b)All California home improvement contracts must be a quoted upfront price including labor, materials, warranty etc.