It could also be that although many municipalities do have laws that restrict STR's, they rarely have the time, resources and manpower to actually enforce those rules.

Anybody who says this is a good or bad idea without any more information isn't doing you any good.

Have you looked into what similar rentals in your area do?"

Hey send me a DM, I have a closed ended second lien option for you that's a DSCR but I have to send you a questionnaire to make sure we can do it. 

If you're doing a rate and term refinance, there's typically not a seasoning period but again it's common for lenders to require it be rented first.If you're doing a DSCR cash out refi, it may not need to be rented first but you're probably paying a higher rate.Your best option is to call a loan broker you trust and go through the options based on your current situation.

I am not telling him that an eviction is coming but simply telling him to leave and giving him fair warning to do so.

Do you have an idea of what your time horizon is for your investment plan?

However, I haven’t found many examples of people doing this in that area.

Cleveland is cash flow, we do build to rent in columbus urban infill where prices are the highest and land prices make sense. rents are good and on a DSCR can pull out cash and do again. easy scalable strategy and sell the portfolio eventually 1031 into something greater.

I want enough money coming in so the business can sustain itself when issues occur with maintenance or vacancy.If you wanted to do this with only 20% down ($46,000), which is all you need for a conventional loan, here is how the calculations change.Total mortgage + escrow $1,493.33 per month with cashflow reduced to $306.67 per month.I prefer to overestimate purchase price, interest rates, and homeowners’ insurance to be conservative.