Building a new house on paper may be less costly (depending on finishing and etc.) but ultimately requires time and patience - which you may value differently than others. 

Also in case of fire or flood, I know a regular homeowner's insurance will have no problem covering it.I have been wondering, if the local regulation doesn't require it, why do we need pay thousands of extra for STRs? 

That second refinishing will (A) cost a lot and (B) further compromise the thickness of the top third layer of the floor.And here's the final point: a good refinishing job like this is going to require a good refinisher.

It's important to comply with all legal requirements and stay updated on any changes.Remember, it's always a good idea to consult with a professional, such as a real estate attorney or property management company, to ensure you're taking all necessary steps and complying with local regulations.

Your tenant base for an MTR that requires a minimum 6 month stay is small.

We are evaluating this to reduce our HOA insurance requirements under NRS, and shift the unit insurance onus to the owners.

Hi guys, I’ve bought my first STR home, and in 2 weeks got it furnished, met neighbors, found someone to “emergency manage’ and clean as I’ll be long distance, now all that’s left is my city- required safety inspection and a few more organizational things.

If I had to guess it might require revision and re-file of prior year returns. 

IMO, minus the sowing classes, teaching personal finance and cooking should be required at every high school, and on the top of lists for parents to pass on to their kids.

Rentals might be more feasible given your circumstances, as they require less time-intensive work upfront.As for capital, consider starting small.