Short-term rentals of non-owner-occupied properties will also require a special use variance which is obtainable by starting with the completion of an application in the Zoning Department."

It'll be confusing in the short term, I think people assume it's inflationary.

I wanted to help them out and minimize their loss and saw an opportunity to get a property slightly below market because of my commission savings, immediate mortgage and maintenance relief, in addition to keeping a lower short term interest rate How did you find this deal and how did you negotiate it?

Instead of losing 55k they will probably only end up losing $25,000 - $30,000Long term its not a great cash flow property but with some renovations and addition of a parking slab I think long term appreciation is the big goal here.

I'm looking to build around 700 sq ft 2 bed / 2 bath guest house primarily used for short to mid term rentals.

Depending on your current rate or if the current loan is short term or long term.

After years of focusing on my career and building financial stability, I’m ready to dive into real estate investing and start creating passive income and long-term wealth.My short-term goal is to purchase my first duplex or single family rental. 

A short-term rental with a stay of 7 days or less + Material participation =also non passive.

Glad you made your way here.. are you eyeing long-term rentals or short-term flips?

Quote from @Ben Trageser: If you live in your short-term rental (STR) property in a future year after claiming depreciation, depreciation recapture does not occur immediately.