If nobody goes along, then the law is essentially dead in the water.I imagine there could be multiple cities interested in implementing this, but there needs to be a couple municipalities who are the first to do so and test it out for everybody else.  

So, LLC owned by the borrower or by someone else is totally fine even if that someone else is your spouse.Thanks again!

It should never be applied towards rent, repairs, or anything else.

For those that have already spent some time and $$$ there, what are your experiences and numbers looking like for things such as:Rental/property management feesclosing costs (as percent of transaction)vacancy rates (on and off season)price to rent ratioyoy appreciation$/sqft to build (I know, this is a "it depends" number)Utility issues (water, power, trash, septic, etc.)Anything else that you think would be helpful!

Has anyone else made this switch from STR to MTR/LTR?

I understand underwriters add up all categories except Mortgage Interest, Taxes, Insurance, and Depreciation - everything else is counted as expenses for the property.  

I'm looking to self manage and also manage a few units of some one else's portfolio.

Do they tend to move out of the room and find something else when they return to school?

Once I use the knowledge in a real life experience I know it’ll be there in my head to call on when I need it, and if I’m unsure about something I hit up google, biggerpockets, and/or someone in my network to get what I, or anyone else on my team needs. 

If so, would someone in my position be able to track down the former owner and purchase the right from them as an assurance that the owner or anyone else can't redeem?