This all depends on the property.

I would get with the city asap and find out all the details on this.It could be possible that if the LLC changes hands that it loses it's exemption.

@Olecia Williams I am local here in Florida and help clients all the time purchase second homes that they short term rent with 10% down with zero issues.

I picked up the BRRRR method book and feeling confident in setting it all up (we did a similar process for our Airbnbs).  

I have been acting as an investor with 20% down on all of them so if it were a 4 unit going as a house hack with a lower down payment that might change things.

I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23If a purchase, you also generally need reserves / savings to show you have 3-6 month payments of PITIA (principal / interest (mortgage payment), property taxes and insurance and HOA (if applicable).

@Bruce Woodruff   wow that sloped ceiling description rules out almost all the sloped ceiling rooms I have been in.   

When they presented the opportunity to me, they showed me what countries want it licensed, what companies are interested and all of that.

Thank you all.  

Now were all standing on a field with cricket bat's and starring at some wickets wondering what the hell is a wicket.....