Again, the lender is going to be a big factor in determining what you can do within the limits of the local law.

I don't know what took me so long to get on here...I am an CA licensed attorney practicing real estate law, estate planning, and immigration law.

I've actually read new York's tenant laws before and its not extremely regulated except in "rent stabilized areas" which is nyc mostly.

Translation:  if they mess up, and they know the law, you may have to do an ejectment (similar to a foreclosure) rather than a straight eviction.Lease with option to buy is the way to go. 

You can Google "Ehlert Law PC" to find me, or just about any other attorney licensed in TX.

.* in our country it is mandatory, according to the law, to manually announce (report) an income, regardless of source, that doesn't come from employer from regular job.

It is not a given that all such communities are strictly "affordable housing".

You are recording that lease per Ohio law, right?

@Tamara Smith Short term rentals can be a great way to increase your cash flow, but be careful about the specific locations you choose as the laws for each municipality are different.

Make sure you are operating within the law.