There is no telling what the city will decide, but it is looking like they may only allow STRs at properties that have a homestead exemption in place.

Since we have  quiet a few attorneys on this thread,re due on sale clause , what  are the attorneys opinions re the change in the "due on sale " clause  based on the changes in fannie mae guidelines from Nov 2017, and proceeding with the samehttps://www.fanniemae.com/content/guide/svc110817....Section D1-4.1, Information Relating to Transfers of Ownership Applicable to All Mortgage LoansD1-4.1-01, Determining Whether a Transfer of Ownership Is Permitted (11/12/2014)[...]D1-4.1-02, Allowable Exemptions Due to the Type of TransferA transfer of the property [...] to [...] a limited liability company (LLC), provided that: the mortgage loan was purchased or scuritized by Fannie Mae on or after June 1, 2016, and the LLC is controlled by the original borrower or the original borrower owns a majority interest in the LLC, and if the transfer results in a permitted change of occupancy type to an investment property, such change does not violate the security instrument (for example, the 12 month occupancy requirement for a principal residence).ThanksP.S thanks to Chris Mason who posted this on this threadhttps://www.biggerpockets.com/forums/49/topics/610...

@Ethan Spielvogel A lot of my clients use Realty Medics and are pleased with them.

But that is investment property to investment property.The two year rule to eliminate taxes is sec 121, the primary residence exemption. 

(loan against my dot/note)$50,000 1st position deed of trust/note (only lien on title)Secured by $450,000+ newly remodeled property with clean titleNo interest rate, past balloon date so can be called due at any time (was placed as interest in home)Property is titled to an LLC so homestead exemption wouldn't apply in event needed to forecloseLooking for a short-term loan using the note and deed of trust as collateral. 

Since all of the work was done under a license, and the affidavit is claiming an exemption to licensure law, does the affidavit still apply?

You have an exemption from the 60 hour class so all you need to do is sign up for the test and pass.

Home Rule can be pre-empted by the state legislature with a specific declaration that the specific statute is exempt from home rule.

My understanding is that you would only be able to pull out as much as the initial investment (50k) back using the Delayed Financing Exemption.

I say perhaps because has she currently used her lifetime exemption (approx $11M?).