(The sponsor has since said he'll amend it to only apply to homes rented as a vacation rental 200 or more days a year.)A new competing bill would apply the commercial tax rate of 29% to Airbnb properties -- like the first bill -- but only if the home is the third or more property of a single owner. 

To leverage this benefit, prospective property owners must engage in short-term rentals and provide substantial services to guests, such as daily cleaning, meal provisions, or transportation services.Additionally, navigating a material participation test becomes crucial.

As much as it sucks for owners, PMs, and other tenants, just because we are LL does NOT mean we can suddenly magically control other people's behavior and get them to do something.

Hi Drew, If you were purchasing it as owner occupied you could put down 3.5% (FHA) or 5% (conventional) - that is good news for the house you are buying for yourself and your wife!  

And I'm not interested in selling or having a co-owner.

Right now I'm starting with distressed homes and looking for those owners who want to sell as is.

It looks like there are a few different ways to find potential partners - joining an investment club, real estate events in your area, other real estate agents, reaching out to property owners and managers you know, friends and family, lenders (hard money, traditional), financial advisors, crowdfunding, targeting your network (which I am sure you have a great one being a real estate agent!)

I presume that the HOA would need to be managed by the building owners or a particular HOA management group (property manager) and the property would be owned by the HOA, right?

Stick to your guns because tenant screening is by far one the most important parts of being a housing provider.

This was in a competitive market, but the owner knew that if it wasn't fixed, no one was going to buy it.