I've also learned from what may be the only STR company in Chattanooga that East Ridge is in the process of enacting their own short term rental legislation.

Some folks look at commercial buildings as 5+ unit apartment buildings or a warehouse or something like that while some lenders and Dodd Frank legislation look at a simple, single family residential that's non-owner occupied as a commercial dwelling because it generates income. 

@Steve RozenbergThere’s a great feeling of self reliance knowing your building a hedge of protection for your family for the future in erratic markets and uncertain times

I’m uncertain because of you may not be able to refi for 12 months and don’t want to be stuck with a high interest rate for that long, but then you tie up your own money too.

I believe that when you buy right, you can invest profitably in any market, at any point in a cycle, with any pending legislation.

Changes in the European legislation, consequent housing crisis, and demographic challenges allowed real estate crowdfunding to grow even further.

@Brett Hearn Here in Canada we don't have legislation similar to Dodd-Frank, but I do take some of the consumer protection steps that are recommended in that act.

Negotiating will become a lot easier when things become uncertain.

The renal rate is what I'm the most uncertain about. 3 bedrooms are going for between $1,100 & $1,300   there are not a ton of 4 bedrooms in this neighborhood that I have seen the asking rent so the $1,500 is based on the more general area.

Here is an in-depth article on the effect that the Dodd-Frank legislation has on owner financing.