Websites to Find Laws/Rules for Airbnb's in Specific Cities

[Dana Miller]

I'm having trouble figuring out what to do for my first out-of-state investment.

I am looking into doing turnkey in either Indianapolis, IN ; Memphis, TN ; or Oklahoma City, OK thru either Rent to Retirement or REI Nation. I know these are low-hanging fruit areas in the sense that they are cheap to buy but they are cash flowing like $100/mth.

To combat this issue, I was thinking of renting out only 1 of 3 bedrooms as a short term rental and/or as a photoshoot studio so I can be able to earn extra cash on that specific room.

First of all - am I allowed to do that..period?

Second, does anyone have any websites they use that catalogs all the different Airbnb laws/rules for each city in every state?

Thank you 

[Lara White]

Hi @Dana Miller here's the link for OKC https://www.okc.gov/department....  We are a pretty large metro area, so outside of Oklahoma City, there will be different city codes for the surrounding cities (Edmond, Yukon, Midwest City, Moore, Norman, etc), so like @Luke Carl suggested, you can probably just google "specific city short term rental" or "home sharing license." 

If you are looking for only $100/month - I'd agree that with @John Underwood that a LTR will get you that. I have several rentals here in OKC and get from $300-500/month cash flow from them (some of them I bought at the right time to get that much though). A STR should get you a lot more than that. There are areas where they will only approve a 1 year license, so that's something to think about here in OKC. And anything over 30 days rental is not considered a STR anymore - so if you do a mid-term rental - you don't need the short term license here.