Choices work in your favor since one way or another they will have to pay whether they do it, hire out or default to you.For more than one of our properties, there is a local ordinance requiring the grass to be no higher than a certain amount, leaves have to be at the curb by two specific dates for city pickup, no snow on sidewalks, etc. 

In my state the borrower in default has up to 6 months after the sheriffs sale to pay back what is owed. 

For me I always default to "pass" unless everything lines up perfectly and has been confirmed by other people I trust. 

While Missouri does have a "Warrant of Habitability" default assumption for rentals, it doesn't excuse the tenant from paying rent unless they follow a detailed process. 

Section 8 investors thrive by operating in lower income neighborhoods, where there is a high probability of default from market rate tenants. 

The definition of a security is: an investment of money in a common enterprise where the investor expects to profit solely from the efforts of another.The lending of money by an investor is unlikely to be considered a common enterprise, you and the lender are on either side of the transaction (the lending of money) - if you default, the lender can take action and foreclose, etc. 

Yeah, it's tough right now - lot of issues going on, regulation and restriction of STR is one of them.The below thread has basically become the default Poconos thread in this forum with valuable input from multiple experienced investors. be sure to read the thread all the way to the bottom to gain its full value (there’s quite a bit of info in there!)

@Dan Colantonio absolute biggest take away from my hard money deals: Short term money is designed for short term, period.If you have concern about your financial wherewithal in terms of your ability to make payments, I would wait and save up more cash reserves.Don’t be afraid to ask a hard money lender for a longer term, if they offered 6 months, ask for 8 or 9 and see what happens.Get estimates from 2 - 3 hard money lenders.Know with as much certainly as possible that you can complete (and sell) project well before end of loan term, if your worried about making payments at 9%, you’ll really be worried about making them at default rate of 18%Factor in permits (if needed) as that could be huge x-factor in the time frame to complete project.

@Sameerah Baker - Section 8 in my area expects the Landlord to handle pest control by default; however, they will also honor a lease that places this responsibility back on the tenant and act accordingly.

Where by default you get free education health and all kinds of goverment goodies that I didn't appreciate at the time.