This designation doesn’t cost extra or give the manager access to insurance payouts but ensures you and the property manager are aligned during incidents, such as tenant lawsuits or insurance claims.

It's a tough business, but admirable! 

I believe this tough-on-crime approach will make Albuquerque safer and a better place to do business in the near and long-term future. 

We jointly designed the house to their specs.

Tough situation.Sounds like your mortgage forces your hand. 

@Kayla M. sadly as other have said, often out of state investors are paying more than is worth, and it can be tough to get back out of a deal.

Here is a video that runs down the basics - https://s-media.nyc.gov/agencies/specialenforcement/01-Legal...There is also a prohibited building list - https://www.nyc.gov/site/specialenforcement/registration-law...Here are some more info overall - https://www.nyc.gov/site/specialenforcement/registration-law..All of this makes STRs in the city pretty tough but it certainly not impossible.

For bookkeeping purposes, I recommend designating a separate bank account exclusive to the house hack activities to keep some sanity.

Understanding the IRS disaster relief provisions is crucial for residents seeking financial recovery.Under IRS guidelines, individuals and businesses in areas designated as federally declared disaster zones by FEMA may qualify for special tax relief.

It's designed to protect assets in the event of lawsuits, negligence, etc. and it only applies when there is underlying insurance coverage.