You’re basically buying a hotel room.

About once every 3 months I make a linens and soaps order from hotel items.com.

Direct quote from the Department of Community Affairs "Truth in Renting Guide,""No landlord of residential rental properties, except those in owner occupiedtwo- or three-family dwellings, motels, or hotels, transient, or seasonal units, mayfail to renew any lease, regardless of whether it is written or oral, unless they havegood cause not to renew the lease"NJ is very tenant friendly.

What's left out in the presentation NHMA provides, is that Portsmouth has been trying to get out ahead of STRs with regulation that distinguishes between folks sharing spare bedrooms vs full short term rentals vs hotels/etc.

Occassionally, they could have a guest or two in town that would be able to stay at the home instead of getting a hotel.  

Maybe I need to try and compete against the high end hotels? 

Yes, there can be "a few balls in the air", which you could decide is not worth it.OK I get it you buy the gold for cash with your credit card.. then sell it.. don't pay your credit card off and pocket the cash.. only risk is movement of the price of gold from the day you buy to day of sale.. which should not be too great.But why cant you just do that with  credit cards you already have.. that don't cost anything to get PLUS like mine I have airmiles etc.I could see this trick for building up my airmiles and hotel points.. 

Our current landlord has no available units and says he cannot afford to put us up in a hotel while the apartment is being renovated. 

@Ashley Leicht - Being the owner operator of a bed and breakfast or small hotel is a, you are on call 24/7 job.

The rest would just be county land, and as long as the county is STR-friendly (which many are around the US as long as there isn't a huge city within them) it would be relatively safer to invest outside of city/ real town limits (especially if the county is poor and dependent on occupancy/ "hotel" taxes).