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.

., that is my thinking as well, my theory is that the big hotels are getting threatened by Airbnbs and they muscled this ordinance into place, the fact that it passed so silently and the mayor was supporting Airbnb being there gives me "corrupt" vibes all over the place.

Also check your Declaration/By laws to see who has right of access for emergency repairs...you or the HOA.

Most any agent can find you a policy where you declare the rentals.