I think the language you mentioned basically just means they have the right to say no, but not simply because they're hitting grand slams.  

That is often a matter of opinion and will depend on the attitude of your municipality.Most municipalities do not require neighborhood approval, but will offer the public opportunities to provide input which will be considered.

What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?

My requirements?

I understand this is not a requirement, but I have never received a damaged unit from an inherited tenant or any legal issues.

@Nick AmYou also may want to consider other matters besides taxes, such as state law requirements for management companies and serving as a property manager, especially with a tiered structure.

(Hands-off or hands-on.)I like STRs as a way to make money while you wait for a property to gain value, but at least for us, cash flow is simply the icing.

Most hard money lenders require 10-20% down payment of the purchase price or total project cost.Holding Costs During Rehab: Yes, you'll need to cover carrying costs, including hard money interest, utilities, taxes, and insurance.

There are a lot of websites that offer the course online, or if you have a college near you, they also typically offer a class that satisfies the pre-licensing requirement.

Vacancies, tenant turnover, or non-payment can impact cash flow and delay your plan.Time and Effort: Managing multiple properties, handling rehabs, and dealing with tenants requires significant time, energy, and expertise.