I'm looking into a 1st Position Heloc for my rental property in CT.

Lancaster city limits short term rentals to only certain zones of the city so definitely look at the city website for that information.

Does anyone have any experience with furnished mid term rentals?

It could appraise based on rental income.You still can't sell or bundle your Airbnb or Vrbo account.

Quote from @Jonathan Small: I have had section 8 rental since 2008. 

I'm a long time lurker finally getting ready to start making a move and getting that first rental property.

Short term rentals are legal when the host is living in the same apartment as the guests and there are no more than 2 guests staying with the host."

This would reduce my monthly expense to $3,568, saving $144/month.Questions for the Community:Which of these options do you think makes the most sense for a long-term rental in NYC?

A knowledgeable attorney can advise here.Create a solid operating agreement: Since you own the condo with a friend, a clear operating agreement is essential to outline responsibilities, decision-making, and profit-sharing for the LLC.To save on costs:Look for real estate attorneys who specialize in investment properties and might offer package deals for the retitling, operating agreement, and filing the LLC.Shop around for title companies that can handle the transfer smoothly and provide competitive rates.Research DIY options for setting up the LLC if your situation is straightforward, though I’d still recommend a lawyer for the transfer process itself.Good luck with the process!

We not only offered them a better comp package, but we offered them the opportunity to work for people who knew real estate investing as investors, not just as lenders.