Does anyone know how if this will potentially affect mid-term rentals? 

@Rick ImIf you are putting in $180k cash you should easily be able to get a $110k loan for the property through a hard money lender to complete the work then refinance into a long term loan.

Have a legal advisor or counsel review your documents before signing.These will make your ultimate exit strategy, post Hard Money financing period, much easier when: - preparing & submitting paperwork for individual tax returns - maintaining the note in good stating with consistent payments & digital payment history paper trail - digital and/or easy access to documentation - preparing for a Re-Fi, Conventional financing, payoff, or even Flip/Sale & deed/title reconveyance to remove the Hard Money Lein holider at the end of the note's term

I'm saying that's not for everyone and I'm thinking more and more people should think long and hard about the possibility of owning rentals first.

@Eryn Garcia  I agree with @Eli Kantor  the hot tub instructions with photos really saved us a phone call at one short term rental and that is saying something since my husband can figure most things out. 

Scenario:A lender had limited communication with the borrower throughout the loan term, resulting in misunderstandings and lack of alignment on project goals and expectations.Mistake:Miscommunication led to issues that could have been addressed early on, contributing to project delays and difficulties in loan repayment.Lesson Learned:Maintain open and regular communication with borrowers.

Currently managing 2 short term rentals in Los Angeles.

I would love to connect with people in Northern New Jersey that are utilizing the Medium Term Rental strategy locally; specifically furnished rooms that are being rented. 

Hello Kyle,There are lots of things to consider, and there are lots of different types of Zoning for residential.For example you could be zoned residential, but the minimum lot size could be 1 acre, and you are buying 1 acre, in that case you wouldn't need a developer, you would just need a builder.For example, lets say you have 5 acres and a perfect rectangle property, that has an existing street that runs the long ways of the property so you won't have to put in any streets, you will simply need to get with a surveyor, figure out your minimum lot widths from zoning, and file with the municipality to get your property subdivided into lots.Once you have subdivided lots, you can either sell the lots outright to a builder, the cleanest transaction.Option 2, you could try to partner with a builder so you can split the profits, most builder's will want you to guarantee the loan, and still charge a build fee before profit splits.Option3, you can hire the builder, obtain the financing, and keep all the profits.Option 4, you could do any combination of 1,2, and 3. 

As someone who has been investing in the Tampa Bay area for over 20 years, I can tell you that it's a market with great potential for long-term rentals (LTRs).