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Updated about 6 years ago,
permit/tax issues with an STR owned as a lease option
We are considering picking up our 3rd STR via a LO as a way to get a property quickly vs. waiting to accumuluate the 20% down payment required to finance.
My questions is, since I would not be the owner on the deed, would I have issues with obtaining a business license to operate a STR and pay the hotel/motel and sales taxes or would I need to involve the owner of the property?