I sat in on a lot of the meetings with owners/city and it seems for the most part to me, the city is just not interesting in AirBnB and as an investor, that's not a good place to be or be right.There will always be probably a few people who skirt the law or think they have a good workaround, but often catch 22. 

While it's something I think is not taken seriously enough by society and the law, it's just far to common amongst all classes of people.

Just make sure you understand laws, zoning and you are eligible for lic.  

You need to research/know the rules, laws and regulations (including HOA if applicable), like you'd do in any US city.

This is why I stress the importance of knowing the laws and the strength of the legal system before investing in a particular market.

If you are renting to professionals, you shouldn't have to worry about the landlord/tenant laws.

From what I see all the people answering to me here (and there are so many) are just coming against and refusing to agree with my simple statement: "a landlord is not above the law or norms by its personal choice or presumed capability to judge what he don't know" or as well "a landlord cannot deny or miscarriage a service to a stranger without a known valid reason and at the same time pretend to be operating professionally or loyally to the moral"Basically I'm telling if you are not able to do your business correctly it would be better to find someone else than you, mainly when your ideas about "squatter" or fair treatment are coming from ignorance or completely invented. 

Could you gift the down payment to your mother in law so she can buy it and then transfer title to you when your house is done?

Also talk to them and see if them paying on the 1st and 15th works better for them (if they are paid twice a month), but explain that the late payments need to stop.If you don't renew their lease, check your local laws to see how much notice you need to give and what the rules are.

If someone stays at a property for 14 consecutive days or more, they could potentially be considered a tenant under state law, even if their stay is structured as short-term renewals.If the individual is classified as a tenant, landlord-tenant laws would apply, meaning you may need to follow formal eviction procedures to remove them.