Because, for instance, if I am flipping a couple of properties and I am in the middle of the rehab, but it will take a couple of months for them to get finished and sold, I may be paying $4000 on hard money debt payments per month, and if that debt is included in whether or not I will qualify for a refinance, then I may not qualify.

https://app.tango.us/app/workflow/BiggerPockets-free-Short-T...The only way to truly stay up to date on your local rules is to pay attention to your local county/city council meetings and how you can participate.

@Robert Brock, I guess my advice is not really any different than I would say to someone wanting to be a residential wholesaler: you need to add value to the transaction.Often times, having the deal tied up is the value, but more often then not, in my limited experience with commercial wholesalers and residential, the wholesaler has no idea what someone will actually pay, so they tie up a deal at too high a price and then add their fee that turns a bad investment into a horrible investment. 

We can still choose how much to pay someone to operate it if necessary.

Once the work was complete, I refinanced to pay off the hard money loan and held the property as a long-term asset.This duplex also marked the start of my short-term rental journey—we ran our first Airbnb from one of the apartments before scaling to bigger projects.

It is a small town, definitely a tertiary market right now, but that is where opportunity is going to be found.I think LTR, in the right location, can provide enough revenue annually to cover all holding and leverage costs while the resident pays down the principle and the demand in the city sustains slow and steady appreciation. 

Now, you need to figure out how to find deals and pay for them.

I bet they wait until January or February so they don’t have to pay the tax on those gains for another year (which is why we may be seeing less selling this month than in a normal cycle).

Now, you need to figure out how to find deals and pay for them.

Insurance would cover it, I would pay the deductible, and no assets would be lost.If you are in an area like San Diego where people are more likely to sue, a judge is more likely to find you guilty, and the payout is expected to be higher, you may consider an umbrella insurance policy.