When lawmakers wrote these provisions, they were originally intended to be used by hotels and motels rather than VRBO and AirBnB hosts.

I won't be investing in the riskiest/most supportable asset subclasses such as hotels, and tilt my portfolio the ones that have historically been more stable such as multifamily and single-family housing.

We take on 100% of the liability, do all the work and sometimes even put our own cash on the line and only get a portion of the deal (sometimes as low as 30% or even 20%).If I want to know more about Phoenix (as I buy hotels all over the country), hope I can chat with either of you.

Families were still staying in hotels, not aware that for around the same price, they could be in a private home with a pool. 

STRs in their current form are simply big hotels, and legislation has been slow to catch up because in their original form they were more conducive to residence (someone crashing on your couch for $39/night).  

(about $20K in profits) I've developed and perfected a strategy to manage these tenants (and I'm a Hilton/Marriott hotel General Manager so its not difficult for me)The only thing(s) that are in our way from scaling quickly is;1) a consistent unlimited supply of tenants looking to rent bedrooms, 2) a partnership with a rental management company (we arbitrage 50% of our homes)3) I guess some capital but really only depending on how quickly we decide to scale.MyRoom is the name of the company, (lazzarapm.com) anyone have any thoughts, recommendations, suggestions on how to achieve this, FAST?

You're running a "hotel", would you stay at your place or another house in the area? 

.- I can invest across different types of deals unusual or difficult for a smaller investor (multi-family, opportunistic/distressed offices, hotels, etc.).- I don't need to put up as much upfront equity as I would need to for doing it myself and I can use that capital across multiple deals.- Pricing 'should' be better from the perspective of fees, contractors, rates, etc. that the sponsor gets vs. me as a solo investor.- I don't care if the investment is less liquid vs. an ETF or REIT and I would aim to hold it for 5+ years at the bare minimum.Some other questions I had and would appreciate any advice:- Is an average minimum of 12-15% irr reasonable for syndicated deals ($10mm - $100mm) with an experienced sponsor?

The reason I ask is that studios compete with hotels and hotels are efficient.  

Since Austin charges 11% hotel occupancy tax, should I include that as part of my expenses when calculating cash on cash return?