Ryan, first find out what your local city ordinances are in regards to short term rentals. 

Contracts with large builders are certainly 100% in favor of the builder at the detriment to the buyer....but thats the case with all of them. 

I am now approaching 115+ days since assignment on my first 3 deals and because I am in NYS, my attorney tells me that I cannot even speak to buyer’s or seller’s attorneys due to “breach of contract”.I lost my first deal in fact because we were hindering on 130 days since assignment (should have been long closed) and the city decided to demo before we closed and were able to takeover in court.

- Has anyone else taken a loan with similar terms?

I would recommend prospective wholesalers (if they are absolutely clueless about the property valuation, don't have REA who can run comps on MLS, don't know what ARV is, can't figure the cost of repairs and don't know about short-cut $30-$35/sq ft rule, 70%-75% rule and etc.) to pick a property they consider to get under contract and contact a local HML.

If this property had been in one of the areas zone for more density they would surely have done a normal "Seattle six-pack" of 0-lot-line townhouses but instead they short platted 2 lots to still in effect end up with a six-pack even though in an area not zoned for it, at the cost of having to sell units as condos and deal with other ADU limitations (e.g. 1000sf limit).In 2023 the State mandated Seattle-style ADU regulations across all urban growth area cities/counties, going even a bit further (2 of any combination of attached/detached allowed).

Many are finding Airbnb to be a better option for long-term stays, and they can negotiate a better price then what hosts get off Furnished Finders. 

I’m about to find houses to do wholesale, fix and flip or Rent with it, I would like to know who’s ready to get a contract assignment?

Most technicians say there is no.reason to do an abatement but they are not thinking in terms of risk.

**Deadline**This serves as a reminder if you have a house/cabin in Sevier County (unincorporated areas) that you are currently using or intend to use as a Short Term Rental, today is the deadline to apply for the Short Term Rental Permit.