Basically, more than a certain amount of STR and MTR in the same building were considered a hotel and I would have had to have 24/7 staff on site.Were you able to get around that with the local municipality?

Also, would this loan help build my personal credit, or would it only report to business credit bureaus under my LLC?

Pick one with value add potential.  

Let's also face it, if someone doesn't have 500-5,000 in the bank as a wholesaler for EMD on their deals for their own business, another red flag. 

They are sure to move on at the end of their lease term. 

That would be your house on the property line.

For those who don’t know, Steve Lehman is a tremendous resource in Indy for any investor needing an objective opinion on all things related to investing in this market.Quote from @Steve Lehman: @Jared FisherI will strongly advise using @Lauren Perry.

If they push back on that, walk.

Cash How did you add value to the deal?

Check out the STR forum where you'll find some great information and will see questions and answers from those who have successfully scaled STR businesses.