While this may exempt it from being classified as a rental activity, active participation remains a requirement, necessitating compliance with three tests: spending 500 hours on the property, dedicating at least 100 hours (and more than any other participant), and performing all the necessary work needed.Additionally, long-term viability and consideration of depreciation recapture are important concerns.

The only possible workaround is likely super low LTV (like sub 50) or if its a purchase and basically zero things that would be required to not do SRO if they chose to do a vanilla LTR

Other loan programs don't have home ownership requirement.

Also, thanks Steve, I'm glad some people agree with this required license being too excessive.

However 3 bedroom is the squishy middle where there is only enough space for 1 nuclear family but not 2+, but will require a higher ADR and cleaning fee to be profitable than 1-2 bedrooms.

The county requires a septic inspection every three years.

Required by Law, a Title I have for my Vehicle along with Automobile Insurance.

This pair of products would require two separate systems.

We also require initial payments to be made in good funds for rent and security deposit, which helps to solve a lot of the asset verification.

The key highlights of this slate of bills includesAdditional Excise Tax on STRCreation of a statewide STR registryStandardize safety requirements across the stateProtect the ability for local government to zone STR in accordance with their needsThis isn't the first attempt at statewide regulation, and its clear the bills as written would be operationally burdensome to put into place for the state (aka, expensive) and the problems they are trying to solve are not, in all, a result of STR in our communities but of bad tax laws already in existence.