Research local regulations and permits for STRs in your chosen markets to avoid surprises.

Just make sure the town is ok with the land being zoned for multi-units, and look into construction costs, financing options, and permits ahead of time.

Typically, RS3 permits SFHs and two-flats, by right.

If before getting a permit you have to dance around for Code Dept officials/ city gov and crime is thru the roof, investments will definitely be low whether real estate or other, but it should be benefiting the city officials to keep things that way.

Insurance and LicensesThe Subcontractor agrees to maintain:General liability insurance of at least $[Insert Amount].Worker’s compensation insurance (if applicable).All necessary licenses and permits required by law.6.

Make sure you do an OPRA request to check for open permits and confirm with the town whether the 2/1 below is legal and permitted.

@Joey Chalhoub This decision should be read narrowly to address statutory frameworks such as MN where state law permits it to take property to satisfy real estate taxes/penalties/interest, sell it, and keep any surplus outright.

We have requested permits to fix this and have not heard back yet. 

This is why the big corp builders or regionals control so much of the larger developmentsthe deals i funded are 34 lots 160 lots and 80 lots respectively and each of them have contracts on them by Toll and Lennar and one regional but they only close when we have permits in hand. 

.- Tell them they have to provide documentation of the animals service / emotional support (as allowed by your local ordinances), and that they have to provide documentation that the animal is current with its inoculations, etc. as well as its local license before you'll permit the animal in the unit.- Tell them they'll have to provide you with a copy of their renter's insurance naming you as additional named insured, with a minimum of (I use $300,000) liability insurance, also before they move into the unit.It's not perfect, but it's a start toward a tenant transparency.