Hi @Jasmineka Caldwell,The current Chicago legislation on operating a "shared housing unit" can be found here: https://www.chicago.gov/content/dam/city/depts/bac...Additionally, here is a list of Chicago properties that have banned short term rentals: https://www.biggerpockets.com/files/user/GriffinA6...Hope this helps!

That's exactly the AirBnb killing piece of legislation I was referencing.Legalized in some capacity, perhaps - but killing any full-time business opportunity for entrepreneurs.

Here are the parameters we're using in the decision.We are modeling that property values and rental income in California could continue as is, or could drop based on legislation and supply/demand. 

The Dodd-Frank Act is financial reform legislation passed in 2010 in order to protect consumers from the unfair and deceptive practices and products that led to the 2008 crisis.Qualified mortgages are underwritten to Fannie Mae and Freddie Mac standards.  

With 40 million people and tenant friendly anti-landlord legislation it's already not looking good.

When did the shape of the current lending status of small multifamily begin to exist, that is, what year and in what legislation did the federal government decide that for lending purposes, a quadplex was the largest multifamily building that could be considered to be a residential property, while a fiveplex or larger apartment building was always to be considered a commercial property, even if the buyer lived in it?

Unless a new proposed legislation passes, #2 has expired. 

I mean I understand completely the ethical reason underlying all of the initial legislation but some of the ideas are they stuck in there are completely moronic.Yes if you could pm me any good attorneys you might know in Houston I would appreciate it.

We send out emails when a late fee in incurred.Based on the legislation, if push came to shove, the tenant could tell us in writing that they want the payment to be applied to rent and carry a balance of increasing late fees.

It may be best to reach out to those familiar with local legislation in the area your rental is for the best course of action to take.