Operating legally is definitely not a safeguard as I provided data to the city that was sufficient to demonstrate that it had operated legally at least the last 5 years (but it has operated legally 23 years) to get maximum STR lottery entries.Note this quota occurred after the council initially passed a ban on STRs all together and pulled the regulation when it qualified to go to ballot (council must have expected they would lose the ballot initiative why else pull it without having it go to vote). 

For Euclid you must have a local PM : Per E.C.O. 1761.02(b)(2), if Owner/Corporation resides outside of Ohio, Owner/Corporation must provide alocal manager who resides in or has a place of business in Ohio.

Hey Steven, Generally homes such as yours that may fall into the "fix and flip" category do not meet the qualified use regulations for 1031 exchanges.

Investment Info:Single-family residence buy & hold investment.

Either way you will use the income from the property to help qualify for the mortgage.

Connect with a lender to see what you qualify for and how you can improve that situation7.

They will be happy to walk you through your options, and what you qualify for.

Even if that's the case, a qualified REI CPA will be able to serve you regardless of your location.

But the guys I fund their rehab loans and they do DSCR to repay me usually need 100 to 200k liquid in their account to qualify for the loan..

Investment Info:Single-family residence buy & hold investment.