Now if a property is contingent on cash only, or an HOA doesn't allow lending purchases, that's a different story.It would also be good to know limitations on STR units, say a mandatory condo/hotel fee split, or "buyer must allow building/HOA management to list". 

If you're house hacking say a duplex, living in one side and renting out the other, you can only depreciate the side your conducting business on and if you have an office on your side that as well.

Whitney, I am basically in agreement with everything you say as it applies to single-family residential.

As someone from the contractor side, I'll answer this question and say, as a general rule getting permits, drawing up plans, sitting in meetings with the city officials, getting inspections, etc.

Originally posted by @David Berger:Originally posted by @Jason Kudo:So if looking to get a 5 acre parcel that has let's say a main house, ADU, and junior ADU, you would be applying to get one STR permit for the entire property.Jason, thanks for so much info on this!

Okay, now let’s say a month has passed since the first successful recast, you made your lower mortgage payment, and your total cash flow has gone up slightly.

Say a hole appears in your drywall and you have to fix and no one is claiming responsibility. 

Now if I had purchased that same property in Austin, say a month ago, under the same circumstances, I'd be in trouble.

For those who got used to how things were, dare I say a bit lazy on things, yeah this would be a rather big disruption and I wouldn't like that either. 

So if someone leaves you with say a 45-day gap between now and January, but you have the 3 months after that booked, you could require a 35 night minimum for anyone booking that Gap for a particular night.