Vacation homes should be classified as a distinct category from single-family homes (SFH) or multi-family homes (MFH) due to their strategic nature rather than their asset type.

Golden only allows them if the owner resides in the property at least 10 months out of the year (and also has had a long-standing rivalry with Denver ;), and in Evergreen (also a distinct town, but perhaps the closest to "West Denver" on the list) STR's are technically allowed but it's become difficult to get a permit (you have to seek approval of a Special Exemption from the Board of Adjustment, then you can apply for a Short Term Rental Permit from the Planning and Zoning Division and the property must be a minimum of one (1) acre in size, the building standards of the underlying zone district must be met, adequate parking must be provided, defensible space requirements must be met, valid water and sanitation must be demonstrated, no more than five bedrooms in the dwelling).

This is a subtle, but significant distinction. 

I've heard of three distinct scenarios:-- Sounds like the city is denying STR license renewals to basement units with any kind of kitchen.

It is a separate and distinct license, and the state prohibits holding both licenses at the same time.We have a higher level license for Principle Brokers where someone can do both.

Very important distinction...

But there are very distinct rental pools to choose from. 

It's like "Bulk internet" "bulk WiFi" or "wholesale managed Internet services" but has some very distinct differences technologically and ownership wise. 

One possible solution is to divide theproperty into two distinct activities and keep separate records for each.

The valuation and market value of a multi family property differs from a single family and you want someone that understands the distinctions if you go that route.