I think in this environment lenders are changing requirements, guidelines, and product availability daily.

Yea, I'd love to call and maybe change your mind with our processes 

We are now doing short term rentals but we're thinking about changing to a small wedding venue. 

The market has been incredibly robust the last few years and I don't see that changing anytime soon especially as mortgage rates continue to decrease.

@John Matthew Johnston 80% of the time, it's a thankless job:(You're never fast enough for complaining tenants, nor fast enough or cheap enough for owners.To have any chance of success, you have to be extremely organized, or every day starts with your hair on fire!

Sometimes using an LLC or similar setup can change how the income is taxed.

We could be very agressive on this and lower our tax liability.We might be romanticizing the real estate opportunity to fast track us to FIRE but we're looking at all these levers and trying to figure out what is the right one / right order to pull.

I have had inspectors look at rooms on renovations that were not permitted (we weren't even doing work in the rooms) and asked that certain changes to be made to bring the room up to code (it was minimal).

That term is generally used when zoning has change, such that it if the structure were destroyed, it could not be built back. 

As other people mentioned the areas do change pretty quickly.