All Forum Posts by: Andrew Steffens

 Thats right, thanks Tyler! Also in Florida there is a state law that handcuffs local jurisdictions.  If they had a law prior to 2011 they can keep it but cannot change it.  Jurisdictions that did not have one on the books cannot make a new one.  I see a lot of people here having trouble with new laws being passed which can put you out of business overnight!

 We are in Tampa and a lot of people book houses here as it is basically halfway between Gulf Coast beaches and Orlando (stay in FL for a week and split time between beaches and Disney).  Tampa is easier on the laws and restrictions than Orlando.  Just something to consider!

 You definitely should speak with a mortgage broker as these things change all the time, and I would recommend trying to find someone who specializes in the area as well as second home loans.  However, to my knowledge the house must be a certain distance and/or have different features.  You can have a house with mountain features, waterfront features, etc

 Awesome, thanks Nick!

Sorry to hear that.  I do not have any connections there, however we have dealt with similar issues in FL.  In FL it is a right or sorts in jurisdictions that did not have a ban in effect by 2011 when a state law passed.  There have been jurisdictions that then have tried to be tricky and issue arbitrary rules like "only 100 permits issued per year" etc.  I would recommend contacting a Real Estate attorney that has experience in that field to see what options they may be able to provide.

 Congrats! Not enough people take advantage of those programs.

As a Property Manager quite a few of my clients have those loans but are rarely ever here.  From what I know you do not need to document, it is a just a written rule where you could get in trouble if they were to look into you.  That rarely happens especially if you pay the loan regularly.  You could make "owner stays" when work is being done already, take pics etc and keep a record if you are even concerned at all about it.  In my experience nobody I work with does.

I agree with most here it sounds like analysis paralysis.  Personally I would contract it and double/triple check during your due diligence period.  There are still gems out there for sure.

There are still some opportunities in the Tampa area at the upper end of your range.  You can get a 3/2 home close to downtown Tampa in the heights around $400k and should cash flow decently.

 As mentioned be very very clear on the listing details (and the photos for that matter).  People will make their own choices.  Can you not add more bedding options like couches having pullout, futons, daybeds, Murphy beds, etc.  The more options the better in my experience especially when wanting to court families.

 Yes - I have experienced this with cleaning as well as maintenance staff.  In my experience tell them to alert you to problems you need to be aware of and provide clear examples of what an example of that is.  We have maintenance and housekeeping personnel in house as well as managers above them.  I tell the managers to not only present me with problems, but also solutions.  Spend the time now properly training them and you will get back your time tenfold when they can operate free of alerting you of all "issues"