It's crucial to stay compliant and follow the rules to safeguard everything you’ve built.

Same rules, same guidelines, same rate, just no occupancy requirement.Working with the right loan officer makes all the difference...Best of luck!

As for protocols, just make sure to set clear expectations—cleaning schedules, payments, and house rules—so everything stays smooth during the longer stay.

The rule I was told from the planning folks is at least 0.25 miles from existing STR and at least 250ft from nearest residence.

I have created a spreadsheet for quick analysis (with the 2% rule, 12% cash on cash, total ROI of 15% per year, etc) and have just been analyzing any Zillow deals that pop up.

Additionally, the limited rental period may not significantly impact the gain, but it’s essential to confirm whether any prorated exclusion applies or if the IRS rules regarding converting a primary residence into a rental property could affect the tax owed.

Rules bigger pocket we want to keep site informative not about services information. 

I plan to hang my license with my uncle’s brokerage, and since Virginia has lenient reciprocity rules, this will allow me flexibility in both states.

That said, if the property you're attempting to finance is materially larger than the properties you currently operate (IE - you're trying to finance a 30 unit building, but have only operated a series of 4-plexes to date), then sometimes this rule gets thrown out the window and you'll still be subject to the "Limited Multifamily Experience Sponsor" re-sizing parameters. 

I'm helping my clients do the same and we see deals that hit the 1% rule, are cash flowing, and have lots of appreciation potential due to the growing macroeconomics of the area.