Also, I know that $262-$362/mo. in net cash flow might not be a lot to many, especially west coast folks, but to help paint a picture of my current situation: My own monthly expenses are only $750/mo (PITI, utilities, phone/cable), so $262/mo. is almost 1/3 of my monthly living expenses.EDIT: I updated the numbers because I realized I was using old info.

It seems likely that a product like that would work for you, but they are higher interest, so you would probably need to be looking to refinance out of it shortly after completion, once the new equity is realized. 

Few realize the true diversification a fund can achieve.

I have some contacts, but yes, I'm realizing I need a good agent/investor and lender to establish a good foundation to start.

They chose the wrong comparables, because you can prove your comparables are better based on the (3) criteria above.My guess is the previous owner of your property overpaid for it based on wild elation in the STR market and your appraisal is much more realistic that you care to realize.

@Michael B.It is good that you are realizing this issue prior to purchasing anything.

@Sam Dorgalli, I made this jump about 6 years ago myself after realizing that being an agent was a ton of client work.

It was also found that the economic benefits touted for the community itself were not realized. 

Sadly both have passed and I have realized I should have leveraged the equity in the home a year ago when rates were so low.

It isn’t about doing what everyone else is doing, but doing something better that the buyers realize this makes sense for them.