He was also able to coat a tub quickly when needed.

It sounds like you’re approaching it the right way, getting clarity on local STR rules and HOA restrictions early is critical, since those can change quickly and directly impact revenue assumptions. 

No time for emotional analysis on something that doesn't pencil.If it passes that test, I go deeper: pull MLS comps (sold prices, not active listings), call three local property managers for actual rent comps and honest repair estimates, grab county records for tax history and unpaid assessments, check FEMA flood maps, and get a quick insurance quote.

I use 50% as a quick filter, but I refine it based on the asset.

If not, the risk increases quickly.

Those who run these profitably do not want to share and have more competition out there its the same for any get rich quick scheme like trading, wholesaling, etc. the courses are a sham. 

For decades I could simply search my downloaded transactions in Quicken for the account number and quickly categorize them all.

Hit your local REI meetups (quick Google search, Facebook groups, Meetup.com, BiggerPockets events, etc.).

He is hoping to sell it quickly by selling it under FMV.  

Hi everyone,I’m looking for some direction on next steps and would really appreciate collective guidance from this group.Here’s a snapshot of my current situation:Portfolio2 single-family homesOne is my former primary, now a rentalOne is my current primary (previously an investment property)2 three-unit multifamily propertiesEach worth approximately $1MOwned 50/50 with a partnerRecently refinanced at 75% LTV, 7.1% rate, 3-2-1 prepaymentEach cash flows about $800/monthFormer Primary (Rental)Rent: $6,200/monthMortgage: ~$7,400/month (FHA loan at 6.625%)Value: ~$1.1MNegative cash flow of ~$1,200/monthI did a cash-out refi ~2 years ago (pulled ~$200k to fund multifamily investments), which raised the rate from ~3% to 6.625%I’m unsure whether I’ll realistically be able to:Refinance into a better rate or out of FHA in the future, orIf selling once the tenant leaves is the more prudent option to stop subsidizing the propertyCurrent PrimaryPreviously held in an LLC as an investmentHigh interest rate (~11%)Now in the process of a rate-and-term refinance after moving it into my personal nameTargeting ~75% LTV (value ~$1.5–1.6M)Considering adding a HELOC post-refi to create liquidity for future investmentsIncome & GoalsCombined W-2 income: ~$310kGoal: scale cash flow aggressively enough to eliminate the need for W-2 employmentPortfolio cash flow is modest on a consolidated basisAppreciation has been strong, and I’ve used cash-out refis to continue acquiring and stabilizing assetsChallengeWhile multifamily and BRRR strategies have worked for equity growth, the timeline (8–12 months per deal) and resulting cash flow haven’t been sufficient to replace active income quickly.