Everyone is demanding regulation and licensing for which I believe is the right call!

Check on City regulations on raising rents first. 

I am looking into STR in Philadelphia and was wondering where to find more info on rules and regulations for short-term rentals.

Some areas I learned about were: • SEC regulations of 506(b) investments for non-accredited investors• Entity investing in an LLC using a self directed Roth IRA, and the ways to remain tax-free• How to read a Private Placement Memorandum• Conducting due diligence on a Sponsor company, Capital investment firm, • Conducting Market Research into new regions for investment locations.3.

I have a property manager that is very helpful and could fill you two in on everything you may need regarding the laws and regulations of SLT short term rentals?

I still can do the minimum remodeling to make it multi-unit, i.e. add a kitchenette and/or bathroom on floors that don't have them but that may not go with the regulations.

I would focus on the lease and your State regulations in your response.

It’s a fairly complex landscape with government regulations, but if done right can be massively rewarding.

Most guys are in the 5%-8% range for no onsite multi-units.If you don't know what you're doing, get a job with a prop mgr and pay attention and learn.With all the rules/regulations changing constantly, you don't want to screw up.

Given the downward pressure that social distancing regulations, shortages of labor, and supply chain issues continue to exert on new construction, do not expect an oversupply of homes anytime soon.