It takes a long time to develop land from scratch it is hard to do with all of the government regulations and codes.

Hey @Isaiah Cortez, speak to an REI-savvy attorney who operates in FL (doesn't have to be located in FL but should know state-specific rules/regulations/laws).We see so many different entity structures for rental portfolios in our REI Bookkeeping Firm.Whatever you decide, ensure it's simple enough for you to easily abide by the structure in your day-to-day operations. 

Illinois finally took the step to make it very clear you need a license to sell or market real estate you do not have title ownership to. those hiding behind  ( hey i am just selling a contract) that does not fly when run up the regulator flag pole. 

My intention is to live in the basement, rent out the remaining bedroom to a long term roommate, and run the upstairs as a full time STR.I'm aware that the City of Littleton has strict short term rental regulations, but they do allow STRs as long as I have a license and I am occupying the property.  

I know the tools aren't always 100% reliable due to bad data so I'm curious if anyone here as experience with STRs in Albuquerque.It also seems like STR regulations aren't super strict at the moment - need to register for a permit and comply with various rules around occupancy limits, acknowledgements, etc - nothing too crazy.

Presumably my gain will be much (less) on the second sell transaction in CA.Are there any regulations on how long I must hold my 'new' CA property before selling it (and going out of state) to avoid CA taxes on first transaction? 

Have you thought about pending regulations in those areas? 

In most municipalities approvals have a few year shelf life and in the event new regulations or new zoning bills are passed you could lose the benefit of the in place zoning/development procedures.

Very few lenders do well in the space due to the risks involved (novelty, rules/regulations, etc...). 

In my case I operate using a Regulation D 506c and 506b, and operate a personally guaranteed debt fund.