From what I’ve read for the NC law as well as what is written in the contract states that late payment in a violation and eviction is enforceable.

Hi Jon from Boyertown, PA-You and your fiancé are interested in buying your first short-term rental and wonder profitable areas to purchase with a budget up to $500,000.I would look at places along the west coast of Michigan, Grand Rapids, Kalamazoo, and near Ann Arbor, MI.It is important to understand the local STR regulations in each community and partner with a property management company that can help your navigate that and manage it well for an excellent guest experience.Don't forget to look into bonus depreciation and doing a cost segregation study to increase the tax benefits of ownership and if you "materially participate" in the management of the property per IRS guidelines it can offset active W-2 income which most real estate cannot.To Your Success!

My name is Chelsea and I am new to investing as well!

Those will be hard to show in documents for 1031 exchange as well.

@Paulette Midgette I haven't looked at that statute in a while but I would check to see if the Home Improvement Consumer Protection Act ("HICPA") applies to this situation.

I personally make well over $100k/yr cash flow from 21 buy-and-hold properties here.

Despite the challenges, the project was a success, proving that well-planned investments can lead to significant profits.

Major difference between working with market renters and tenant assistant programs as well.

As for the legalities of setting up an LLC to protect you and your partners, I would consult with an attorney for best judgement. 

Considering the area  I am not sure how this poster's LTRs are going, but I own 2 in the area and have helped multiple investors buy and then lease their LTRs in the Buda/Kyle area as well - all are cash flowing.