Wow, sounds like things are already a lot more regulated where you are in Chicago.

Considering going in with other investors on a condotel unit in Las Vegas.Do condotels have anything different about them - as far as taxation/regulation/classification vs any other type of short term rental?

However, investors should consider property taxes, local regulations, and neighborhood trends carefully before making decisions.

I also suspect these regulations are coming to a town near you if they haven’t already because  that’s the trend.

Not a smooth ride, not a steady ride, but when you get it to work you have the type of environment investors dream about. 

It is helpful to know that many HOA’s don’t allow STRs…I am also trying to source information about the STR regulations in this area to target the right small house.  

Still learning to use this platform:) To answer your question, I would like to stay clear of the metro and national fly to markets due to their volatile ST regulation structure. 

Double-check local regulations, but you’re likely fine without one.This post does not create a CPA-Client relationship.

With lower entry costs and solid growth potential, he was able to snag a couple of properties that started generating positive cash flow pretty quickly.Sometimes a new environment brings new opportunities.

However, structuring this in a way that complies with tax law would likely require expert legal and tax guidance, as it involves partnership agreements and IRS regulations.