Well, we caught it early but with the baby it creates a very unique situation. 

Your property is located in NJ and there are a slew of unique landlord-tenant laws that you have to abide by.

This unique renovation will add the modern design that we pride ourselves in bringing to each project and our communities.

It’s certainly better than LTR for cash flow even with my conservative numbers, but not sure it’s worth the extra hassle and hands-on management.Here in Florida, I discovered that anything under 6 months falls under the Division of Hotels and is regulated as such, and from what I can tell, STR owners are largely non-complaint with these regs, lodging taxes, even registering with the state as a landlord! 

Shelby - thanks ....you may need to increase the down pmt to 25%  as many lenders ( not all )  have a maximum  75% ltv  for investment 2-4 family properties ...if you havent already done so - locate a lender to work with / get  specific assurances  on what they can offer and  get  pre approved and  ask them whatever questions  you have regarding this  specific property ......(  due to the uniqueness of the property - you might  try locating a lender thats local to the property in question )

I'm an agent in Warren Real Estate's commercial division and I specialize in residential investment.

However as a New Zealander who has lived in a few countries I find American laws and financial systems to be uniquely flexible and easy to take advantage of. 

Deandra;Your question answered responsibility for the issue "weather-caused power outage" - so in your mind, it was weather caused, which is an "act of God"Yours is not a unique issue, happens all the time and it looks like the management is handling this properly.

I’ve got a unique story !.

You have a unique advantage that most of us don't.