The reality is we're operating commercial businesses in residentially zoned areas that objectively don't make any more sense there than a Hilton or a steel mill, neither of which would be permitted to operate there. 

But you need to be ready to buy the land, immediately get it entitled and permitted, and start building as soon as possible.

zoning and permitting requirements for your MTR use?

For example an oceanfront property with a transferrable STR permit went pending in one week..and at least 5/10 of our top luxury STR prospects are off the board..Advice to anyone, anywhere on how to close a (healthy) STR on a tight timeline:- First and foremost - perspective: Acquiring a turn-key (particularly luxury) STR in real estate terms is the equivalent of purchasing a Ferrari.

You would need to apply for a special use permit OR go illegally at your own risk.HOAs: Good chance at finding a non-HOA.AirDNA Score: 98/100 primarily thanks to revenue growth and seasonality.

I’ve found that automating as much as possible (rent collection, maintenance requests, bookkeeping) makes it easier to step away.Happy to keep the conversation going! 

Quote from @Parris Taylor: If you only had 30 minutes a week to manage your rentals…What’s the first thing you’d automate?

Make sure all four units can legally transfer permits—otherwise you might find yourself holding a “fourplex” that only pencils as a duplex.Cash reserves: I’d plan on holding enough reserves to float one full off-season of debt service.

Most investors struggle to keep costs/permits under control; that’s where your expertise gives you a huge edge. 

With new construction, you’re often looking at 9–12 months depending on permitting, inspections, and build speed.