The process required coordination with local authorities and additional time and expense, but resolving it added long-term value and functionality to the property.

Then contact a taxing authority. 

It has a lower turnover than STR but can bring in higher rent than traditional leases.Co-Living Arrangements: Renting rooms individually on a month-to-month basis could generate more income than a single long-term lease while reducing management hassle.Furnished Long-Term Rental: A furnished rental could allow for higher rent and attract tenants who don’t want the STR commitment but still value flexibility.Partner with a Local Boutique STR Manager: Some local companies manage STRs with lower fees than Airbnb's traditional managers and could help keep profits up without 20% fees.Hope that helps you with your decision!

I know this may be an individual decision ultimately, but what types of land did you purchase, or what regions, or what characteristics and why?  

The process is getting allthe information together like the 1003, credit authorization form, bank statements, income statements etc. they will underwrite the file and confirm the borrowers ability to repay.What state is this in?

Do people like the individual hotel like bottles and soap? 

The parent LLC will have an umbrella company agreement or operating agreement that will state the company is authorized to create specific series. 

It's great to run into other positive individuals in multifamily space. 

This is an amazing space to meet many very smart individuals.

If a cash out refinance, many lenders will allow the cash out to satisfy the reserves requirement.DSCR lenders generally let you vest either individually or as an LLC.