For those following along at home, that language is found in Title 10, Chapter 1, Article E, section 6 (or 10-1E-6) in the municipal code.It reads: "The renting or leasing of real property for residential occupation for periods of time less than thirty (30) days is prohibited in any zoning district within the town, except as permitted in this title for hotels, motels and bed and breakfast inns."

If not, waiting until the penalty period expires may be the better option. 

Update Payment Processing•Work with tenants to transition their rent payments to your system.

Would work the same as a BRRR just over a longer period of time. 

The property is listed for $259,900 and needs new floors and updating to the kitchen and bathrooms.

Hey Bans,  the ARM seems like a great option for the increased cash flow in the short term and interest savings for the 5 year period.

Good luck and keep us updated!

@Laura Ozols  Im considering the Hero loan only because I intend to pay off the balance in full before the 18 month promotional period expires.  

As of today, you own a unit in a good location, it sounds like pretty much all major issues have been taken care, it's been updated, and you are above break even cash flow.

I will need to do some minor updates to the property (painting, updating bathroom tiling, updating trims, etc) in order to get the property rent ready.