John’s county is implementing a 5% “tourist tax” on all short term rentals.

For the contract stuff you should talk to a lawyer about that and someone already utilizing the strategies you are discussing, know the risks of the strategy you want to implement before moving forward and maybe try to shadow someone already doing them.Again my initial recommendation is that you put your work ethic and drive toward something with a more predictable payout, stop wasting hours working for Walmart, bring your earnings up and continue learning about this industry and then make a move for something bigger once you have a nest egg built up and have taken the time to develop enough skills to make it in whatever you decide to pursue.

I want him to team up with my realtor who will provide feedback on what the end user in that area is looking for to figure out what can be implemented and what changes are not worth it.

Identify the problem, solve it, then identify and implement processes and systems so you don't get "surprised" in this or similar situations again.

The other sort of related move I made was implementing a "profit first" cash management strategy.

“And we’d like to see other landlords implement the same policy… It will help to end this pandemic,” Steman continued.

And call a few Lenders who strictly go by FHA guidelines and don't implement their own overlays.Hope this helps and good luck!

The contract we're dealing with goes until 2027 and our business plan includes implementing faster internet and smart technology which we wouldn't be able to do unless we can find a way out.

Any wording to look for on the mortgage agreement that would prohibit implementing vacation rental?

When implementing large rent increases, I recommend you remove the current tenants and start fresh with renters you've screened and can train from the beginning.