Is my criteria legal? 

All existing STRs with 2 days rented in the last year will be granted legal non-conforming status.  

My main goals with these initial projects are:1.Gaining valuable insights into the local market.2.Getting hands-on experience with out-of-state investing, particularly when it comes to remodels and managing from afar.3.Testing the entire BRRRR process to see if it’s the right strategy for me long-term.If all goes well, I’d love to scale up and explore multi-family projects.

The applicant was initially upset and claimed no other reports has previously caught flagged this.

If not, there is a legal reason preventing them.

It is a separate legal entity.

Here’s how you can stay informed and ensure your rental properties meet all legal requirements.1.

I am only doing turnkey properties so there won’t be much equity other than initial downpayment.  

I am assuming short-term rentals would be legal in the municipality.

The lender does charge the flipper 4 points upfront, and the note represents 55% of the property’s ARV, so I’m not too worried about needing to foreclose if it comes to that.The lender uses his own capital for initial funding and then sells off the notes after that.