@Linda Thomas yes, at least do that so there's something in writing and showing you're complying with the law. 

To transition to multi-family properties, research landlord-friendly states like Texas, Florida, Tennessee, and Indiana with favorable eviction laws, lower taxes, and higher rental demand.

We also own an accounting/payroll firm and have a lot of MHPs, residential communities and apartment complexes as clients and have seen this happen a few times. 

Regulations & Compliance: What's the best way to research local STR laws and avoid potential regulatory issues?

@Phil Petite Forming an LLC in Tennessee is recommended if your rental properties are located there, as it simplifies legal compliance, avoids the need to register as a foreign LLC, and aligns the LLC with Tennessee's laws for property management and tenant disputes.

But, know what you want to accomplish beforehand.Creative Finance is a great way to buy properties when done properly and lawfully. 

Written by attorney investors, it's full of practical advice about the management of investment property, has sample forms that can be edited, and - most importantly - tells you what your primary state laws are and where you can read them.

Lending laws change frequently, and we receive emails from Lightning Docs throughout the year explaining their updates to the documents we use here in CA.

These should be reflected in the purchase price or negotiated as part of the terms, such as the seller carrying some of the renovation burden.Use seller financing to your advantage by proposing a price closer to $225,000-$250,000 with terms such as 20% down, a low interest rate (4-5%), or interest-only payments for 3-5 years, with a balloon payment once renovations are complete and cash flow stabilizes.If the seller is firm on price, consider negotiating higher down payment terms to reduce the financed amount, paired with interest-only terms or a price reduction tied to renovation milestones.Key questions to address include the condition of the septic system, which can be a significant expense if it fails.

I'm a firm believer that we can't ask for anything without giving A LOT first.