Great hosts will be good neighbors, will contribute to local tourism and will pay their taxes and permit fees* A major area to improve on the proposal is the 1 hour time-limit for resolving complaints.

I have already been fully qualified for both the line of credit and DSCR.

Sounds like he was feeding you a line of garbage. 

Quote from @Griffin Malcolm: Open an LLC and apply for a small business line of credit from Key Bank.

Or maybe a favorite way to stay updated on local rules?

If they are available online or in person.

I’ve been down that road of carrying a line of credit on a property before, and the stress can realy pile on when you’re staring at that monthly interest.

Hey, congrats on finding a potential flip—it sounds like you’re on the right track!

@Vinny Muli - it is VERY hard but not impossible to get an equity line of credit on a non owner occupied property. 

Focus on the actual deal first.