DC had legislation that was due to be brought up for debate this month, but the council member who was working on it was voted out.....but there is a new council member taking up the issue.

STR's are becoming increasingly targeted for legislation, especially in Minnesota.

Whether we like it or not, STR legislation is inevitable in many residential locations.

If it has already been painted over that might even still work with any new legislation out of L-ville.

@Cristian OrellanaCash Flow, Landlord friendly legislation, balance of renters to owners, economic and population growth, Fortune 500 companies should narrow down the search.

I agree with @Bill Brandt.In this legislative climate I see absolutely no upside to a term lease. 

Many of the suburbs do not have legislation prohibiting or taxing STR's.

Of course, hard money loans to consumers was still possible although legislation and abuses ultimately eliminated hard money as a money source for homeowners in a pinch.My original mentor, Mike Quaid, owner of Cal-West Home Loan and Fullerton Investment, knew people and taught me the art of 'undressing' the prospective borrower.

That is why I believe using a corporate trustee is the best way to do it especially for longer holds on property.The attorney we use to legally review these land trusts up that is all they do and do it on a national level so they review all 50 states state law as it relates to LT legislation to be in compliance.

I don't operate in IL, but am aware that many states (including NC) created similar legislation between 2007 (when IL did) and 2009 when good ol' REI were taking advantage of people in the great recession.