I suspect he had not looked into me. 

Now they may get caught or they may not, but I suspect it's only a matter of time until something bad happens to them.Far better to just find a city where STRs are welcome and not restricted and do your business there....no point in bashing your head against the wall all the time, or worse yet, have your business shut down.

Recently he asked for the lease again (I had already shared with him in the first day) , and I suspect he is working with someone on a loophole of some sort.

@Andy Sabisch You will see this happen if the buyers agent isn’t being entirely compensated by the sellers so it’s not suspect, I would’ve just had this conversation with you before looking at properties

As I suspected, I added it in under “other” expenses.. glad I did that.

It may be best if you share the rents and expenses that you are including in that amount and I suspect you will find some expenses that are missing (cap ex reserves - even for a new build, vacancy, repairs/turnover, property management - you have to get paid for self-managing or may need or want a PM at some point). 

I suspect this is illegal.  

Doesn’t matter what was said or done a year ago.If you believe the property doesn’t make sense at a 8% higher value, you shouldn’t buy it.To present a different perspective……Based on my experience, multifamily values have increased by way more than 8% over the past year in most locations.So if it was a good buy last year, I suspect it may still be a good buy at 8% more even with higher interest rates.Something to consider:Is the current rent roll higher or lower than it was a year ago?

Hi Sarah, an appraiser will likely not comply with your request - I suspect this has to do with obtaining comps.

I suspect this is going to be long, so be prepared or close this up now - lol.