Hey Fisher,Yes, you can live in your garage and rent out rooms in your house, provided that the garage is properly converted into a habitable living space according to local building codes and regulations.

Below you can find a quick FAQ sheet of the updates they have implemented and will be implementing soon.Quick Overview: - The cost of application fees has increased- Platforms will remove listings without legitimate permit numbers- Platforms will have to remit the Hotel taxes directly to the city of San Antonio (Operators still have to file revenue reports monthly)- STR operators can change the operator of the permit without a new application being required (it seems the permits are still non-transferable upon sale, however)- Updated Party Prevention measuresMy Take:This should weed out some hosts that have not been abiding by the permit requirements.

But you need to really understand how to run your numbers, your cities property tax rules and how to calculate true future taxes (I see a lot of folks fail here), etc. 

But you have to be a good salesman, you have to do your market research, financing research, and also build yourself a pipeline into the opportunity of whichever market is chosen.I have a Canadian client who runs things that way. 

That about $500,000 in taxes this year and $800,000 next year.

I have a builder who builds 4 BR with two Primary Suites and has a lender deal right now. 

what if the spec level of the build you are entitled for isn't what the users need?

Do I need an LLC in order to claim tax benefits for STR?

I requested copies of the income taxes for them both and it looks like this could be a pretty good deal but I'm not sure how much he spends on materials to keep them running as that was not included in his "financial report" (which was a piece of paper with number written for utilities).

I would love to connect with people in the area to get conversations started and build connections.