Other states (see also NC proposed bill to outlaw institutional landlords) have had similar legislative proposals, but I'm not aware of any being passed. 

@Scott Voytko It will take a while (3+ months IMO) to see the results of that legislation.

The buyer's lender would want a TITLE INSURANCE POLICY which is dependent on how much the STATE LEGISLATORS in your state are in the pockets of the INSURANCE INDUSTRY.

Since you're going to do a complete rehab I would definitely be pro-active & include a fire sprinkler system to be compliant with pending & existing legislation (I believe its NJAC 5:70-3).Good luck on the rehab.

Recently Senators Chris Coons and Kevin Cramer S. introduced The Choice in Affordable Housing Act.   This bill is focused on voluntarily incentivizing for the participation of the rental housing industry in the Sectio...

Another thing that factors into STRs is the local legislation. 

Next, (as I am sure this is NOT an isolated incident), lets ban together and get NAR to do something about it or perhaps our State Legislators, governors, etc.

You cannot legislate or force land lords to take a loss on an investment.

We will be working to try to affect this law in other legislative ways, but cannot hope to gain traction unless our members have clearly communicated that they are opposed to this portion of the rules.

Of course they can, but that is not what legislators are concerned with.