While I’m not personally the pot police if there were actual police reports regarding this or if I saw proof of it at the property I would immediately begin terminating the lease.

Not sure how Las Vegas operates but when I get a code violation of any sort I get certified mail delivered to my personal house and multiple other regular mail attempts. 

The number of bedrooms for STR has to match the number of bedrooms cited in the septic permit, so you are seeing homes with 7 BR now have a 10 person STR occupancy limit and some homes that had bedrooms added without permits now being restricted. 

It was a very interesting perspective and he is very highly regarded as well.I tend to personally feel the next 2 years are going to be mostly a lot of the same as now, operating properties to maintain rather than growing a ton.

I have sympathy for that person.

Make your intentions known and question them on what they're ok with and what the fees are regarding just simply holding a license for your own personal transactions.

I personally like LTR as a strategy since once you attract high quality tenants, it isn't that much work relative to MTR and STR strategies, but the key is you have to look for properties where you can add bedrooms, so you can do rent by room, rent to market tenants, rent to Section 8 tenants, and the more bedrooms that you have the higher rents you will get.How to do you add bedrooms? 

In addition, they will need space in the common areas for their stuff as well (think refrigerator & pantry for food, etc.)No background check will show how clean they are, how they respect your space, whether they are a loud person, or a night owl, who they invite over to stay with them and such.  

As we're running out of personal capital to continue acquiring with, we're exploring a structure where we give investors an 11% preferred return that we buy them out of in 7 years.

I've made many great connections, educated myself on topics I didn't know existed before and have taken actionable steps in my personal investing business that I wouldn't have done otherwise.