Any time you have an OO financing deal, begin with the presumption of compliance, then look for applicable exemptions and hope for the exemption being applied.Just because you may have an exemption won't be an excuse to go wild in any OO deal as the base line of fairness may have been moved in your local area, not that every detail must be complied with, but staying close will help if things go south.

@Chad ReynosoI would go with an attorney - your going to have more confidence that all the legal ramifications are known and observed in growing your business, having the right docs in place, staying up to date with with compliance regulations', etc.

. :) How can I know I'm doing the right thing (both from a tax compliance as well as for my personal financial situation)?

That's usually enough to scare the PM into compliance because the State will audit the file, the bank accounts, and more. 

Additionally, for the large number of people that are infatuated with the BRRR, rest assured, cap rates will come into play if your brrring a multifamily deal when you get to the refinance part.

This can include providing them with your contact information and asking them to reach out to you if they need anything during their stay.Additional services: It could also be considered to offer additional services like weekly cleaning, laundry, groceries, etc.Rentals laws: Be sure to familiarize yourself with any short-term rental laws and regulations in your area and make sure that you are in compliance with them.Overall, the key is to be proactive in your communication and anticipate the guest's needs, so they have an enjoyable and comfortable stay.

I assured the C/E supervisor that 'I did not put those cats there, Sir' however, he wasn't impressed.

The amount of anti-discrimination compliance training I've received is freaking endless, but at no point has any of that training included a single iota of "be careful you don't treat veterans better than non-veterans, or it's unlawful housing discrimination!"

Hearing something 2nd hand and or not understanding it does not give you an excuse for non compliance and can be a very expensive lesson.

And if you're unsure of the process, it's always best to consult with a tax professional to ensure that you're in compliance with all state and federal tax laws.