I know a company right here in Cleveland that does several of these short-term rentals for utility company workers, executive contractors, and even a film crew from California.It always charges a high deposit and much higher rents than what the rent would be to more usual, long-term tenants.The owner did not mention any issues with extensive damage, etc, but then he was trying to convince me to turn my property into a short-term rental, so he obviously wouldn't.I think if you structure the agreement so as to cover any repairs when they leave, you should be okay.

Securities and Exchange Commission (SEC) as: a bank, insurance company, registered investment company, business development company, or small business investment company;an employee benefit plan, within the meaning of the Employee Retirement Income Security Act, if a bank, insurance company, or registered investment adviser makes the investment decisions, or if the plan has total assets in excess of $5 million;a charitable organization, corporation, or partnership with assets exceeding $5 million;a director, executive officer, or general partner of the company selling the securities;a business in which all the equity owners are accredited investors;a natural person who has individual net worth, or joint net worth with the person's spouse, that exceeds $1 million at the time of the purchase, or has assets under management of $1 million or above, excluding the value of the individual's primary residence;[10][11]a natural person with income exceeding $200,000 in each of the two most recent years or joint income with a spouse exceeding $300,000 for those years and a reasonable expectation of the same income level in the current year;[12] ora trust with assets in excess of $5 million, not formed to acquire the securities offered, whose purchases a sophisticated person makes."

Industry executives also worry the plan could severely cripple the mortgage interest deduction—long considered a sacred cow of U.S. tax policy.

All the windows are hard to open.I had each client execute an estoppel agreement and in that document I ask them for needed repairs.  

My question is am I obligated to record it and should an executed contract be enough for the building dept?

@Howard Greisman informed me that he wasn't please with the cleaner.

Robert Howard - I have stayed away from these properties as it is an additional cost with an unknown (rates can rise rapidly).

The way we started and our big picture plan was to do rehabs and wholesale to raise capital and then execute a buy and hold strategy.

I have an executed contract on a bank owned single family home.  

This property definitely is a good buy with value up front.As far as exit strategies are concerned, my goal is to execute the BRRRR strategy, with little rehab actually required.