Hi Tony:The best way to handle is to visit the city planning department which zoning is usually part of to see if a variance is granted, and examine the plans filed.

Plus none of us want this part of the tax law eliminated because some eager beaver IRS person keeps hearing of this "STR loophole" and decides to take steps to either change or get rid of it. agree to disagree-a loophole in tax is both, its not just a gap in the law.

Second, as you can see on this thread, some of our colleagues take a rather cowboy approach, and I disagree with their position.

Quote from @Ray Hage: I wouldn't worry too much yet but if after a couple more days of no activity, I would bring the price down a bit to be closer to the top end of the market and see if there are recent comparables that have been rented (especially if you have access to the MLS) I disagree about not worrying about getting no interest in 2 days.

IRS Publication 590 is a good resource to examine these items as well. 

Did not know about this disagreeable feature of LVP.

But I am sure plenty of other people will disagree with me

I suggest examining that carefully.

Have you examined your "value-proposition" for a tenant?

Case in point: LA city... and most recently, in the dark of night without warning, Pomona.I know there will be some on this forum who may disagree and will have their personal stories of how to overcome it and work around it.