Here the state rules for septic testing did not come into place until 1972, so all systems before that are a hodge podge of unregulated, who knows what systems, and all are pre-permitted, which means they were never permitted, inspected or approved before installation. 

We have also run our numbers and set ourselves up in such a way to be able to turn the short terms into long terms if something where to change over night.....Also its very important to run stress tests of your operations/numbers so you can be prepared for the event of strict code enforcement or even a hurricane, which unlike long term rentals, short terms are very much effected by. 

@Timothy Casallas I can't help you with a team in Philly, but I'd like to test your resolve a little.

Please note that the account into which the funds are deposited must be the same type of account from which the funds were first withdrawn (e.g. withdrawal of pre-tax funds from a 401k could be deposited in a pre-tax IRA but not a Roth IRA - "like to like").Loans:Payments on a 401k loan taken under the CARES Act must be paid back starting in 2021 over a 5 year term.Here are the details regarding the loans:NEW LOANS:The CARES Act which was enacted to provide relief to individuals impacted by COVID-19 allows for increased 401k loans and more flexibility for repayment of these loans.Specifically, you must be an individual who meets one of the following conditions to demonstrate that you have been impacted by the crisis (and it will be your responsibility to retain documents in your files that demonstrates that you are a qualified individual):Individual who is diagnosed with COVID-19, with a CDC-approved test;Individual whose spouse or dependent is diagnosed with COVID-19, with a CDC-approved test; ORIndividual who experiences adverse financial consequences as a result of being quarantined, furloughed, laid off, having work hours reduced, being unable to work due to lack of child care due to COVID-19, closing or reducing hours of a business owned or operated by the individual due to COVID-19; or other factors as determined by the Treasury Secretary.On or before September 23, 2020, such individuals take a 401k participant loan subject to the following terms:Maximum Amount of the Loan: 100% of their 401k balance not to exceed $100,000.

For example, Austin has seen such intense demand and limited supply that a 600 square foot house costs what a mansion does in other parts of the state.

You want to test all your assumptions from a pessimistic point of view, to make sure they are solid.for example, are you positive you can get $1200 in rent? 

My suggestion is to test both, and go with what fits you best right now. 

Before you fully commit to a market I also suggest testing the waters with a smaller acquisition.

The info bulletins are like cliff notes, so if you want an idea of the rules that's great, but when it comes to test time read the book...So the code for ADUs that deals with FAR says:*The gross floor area of an ADU and JADU shall be included in the floor area ratio for the premises.

What I have found, too, is that you may be getting tested as well to see if you are legit, or just gaming them.I would get the offer to them and see if you can meet the seller and "partner" in person to sign the deal.