We have many restrictions for breed and size and we have higher minimum criteria for a tenant with a dog.We limit total pet count to 2 pets regardless of type (no fish allowed)  all pets must be declared and approved by us.No pet rent or extra deposit on cats, both pet rent and extra move-in fee for dogs.In general, I recommend you come up with a reasonable pet policy that you can live with and allows you to rent to some pet owners.# no smoking ? 

If you ever end up in court, it will probably be declared invalid and you could lose your case, even if you are in the right.Stop using contracts that are not legal to use.

You must declare it as a foreign entity in the state you are actually doing business in.

And you’d have to declare the rental income that wouldn’t be personally deductible.

Trying to enforce the contract under those circumstances is almost certain to fail as the contract would be declared unconscionable.              

People always have the right to make their own decision, but reading a single paragraph, finding one perceived issue, and declaring the law unclear is a suboptimal decision making process. 

Build the "muscles" and self that succeeds.

Flexing strong judicial muscles scares off these kinds of people.

Typically I will ask for:The current and last 3 years revenues as well as tax returnsP&Ls If there is a PIP in play or if the Franchise company declared oneSTR reportsRevPar (Revenue Per Available Room)ADR (Average Daily Rate)Break down of expenses Economic growth in the vicinity Abilities to increase revenues that the current ownership is not taking advantage ofSomething like creating contracts with local companiesOver all, with hotel investing there can be tremendous potential for cash flow, tax benefits, natural appreciation, and forced appreciation.

Just try to apply ... they will check.As with anything, for higher limites, i.e. credit, you'll need a higher credit score and declare higher annual income...Good luck.