Supplement this far simpler entity approach by ensuring you have appropriate types and levels of insurance, you operate your business in a manner in which your conduct is not considered an exclusion in your policy, you work with licensed and insured vendors, you execute contracts with indemnification clauses with these same vendors/ require additional insured status &  maintain appropriate licensing and permits.

(Foundation, etc)4) Black mold, asbestos, lead paint, other other costly repairs. 5) It need significant cosmetic repairs where the purchase price just isn't worth it. 6) They may have an odd layout of the rooms. 7) Non-compliant septic.8) Trouble with permits or tenants9) Listing agent has a poor or incorrect listing.

We have requested permits to fix this and have not heard back yet. 

It seems like every city, county, and state has its own rules, permits, and tax requirements for short-term rentals, and I’m finding it overwhelming to navigate all the different layers of compliance.For example, some places require business licenses, transient occupancy tax permits, or even special zoning approvals.

.- Does the condo have an existing STVR permit or will you need to apply for it?

As an example, we decided to replace the windows in a house we were renovating and ended up costing us $50,000 extra because we got into issues with permitting and suddenly found ourselves having to hire an architect, speciality contractors, etc.  

I understand there is a cost to have it burned down. the home would have to be prepped to to meet the requirements for permitting.

Start with a standard offer, and write a contingency into it for electricity, all the below ground utilities, and then work your way to zoning, permitting etc.

@Jesse LeBlanc are virtual hugs permitted here on BP?

If the borrower themselves need weeks / months to get plans and permits for construction, and does not provide all docs in a timely fashion, we can only go as fast as the borrower provides what we need. 2.