Hi everyone!! My partner and I are investing in STR in upstate NY and we just received an accepted offer out of over 25 offers, we are beyond excited. This is our first STR in the investing journey, however the town we are going to purchase in has regulations on STR. The regulations include that the home either needs to be "owner occupied" in a notarized letter, a management company running it, or a responsible person being 30 minutes away. It actually says that on the rules which gives us the opportunity to have some loopholes. We are living in NYC and in fact wont be living there, so do you think saying it's owner occupied is too risky, or someone else recommended starting an LLC and say you are the management company. Let me know your thoughts!
