Although, some of the information was not required either time and some was required both times.

Even if we have no income there any longer, we have to file so they know we have not sold our new 1031 properties, as required by the state. 

If you are not already working with a realtor that is well versed in STR and knows ALL of the requirements for STR, do yourself a favor and reach out to @Josh Green.

If you give someone over 19% membership interest in the deal, the bank will usually require a personal guarantee from that individual. 

These need 20%-25% down, require a 680-700+ credit score, and 6 to 9 months of reserves (reserves are payments in the bank). 

Does it require a highway occupancy permit if its on a state road, in my area it cost me around $1000 just to get the permitting and design for my driveway entrance.

Because of my savings and lack of expenses, I'm in a very comfortable position to make my first move, but because my income is mid, I'm unable to meet the Debt-to-Income requirements to qualify.

Quote from @Dana Yobst: Quote from @Julio Gonzalez: @Dana Yobst While it may seem like a simple concept, it's actually a very complex process that requires significant documentation as well as specific methodologies.

Requiring occupant to have renters insurance is another possibility for extra protection.

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