Ever since, this SALT limit has been hotly debated by legislators and the general public, particularly in states with high state income taxes.

For our state taxes, we are going to do it differently.And, to make things more fun (for state legislators) and more aggravating (for the rest of us), each state does not conform in its own random way.

Change is fine, even expected, but the last thing we need in this industry is burned bridges and more legislation.

Notwithstanding anything to the contrary contained in this Agreement, in the event of (a) the enactment (or imminent enactment) of any legislation, (b) the publication of any temporary or final regulation by the United States Department of the Treasury, (c) any ruling by the Internal Revenue Service or (d) any judicial decision, that, in any such case, in the opinion of counsel for the Limited Liability Company, would result in the taxation of the Limited Liability Company as an association taxable as a corporation or would otherwise result in the Limited Liability Company being taxed as an entity for federal income tax purposes, then the Manager may impose such restrictions as may be required, in the opinion of counsel, to prevent the Limited Liability Company for federal income tax purposes from being taxed as an association taxable as a corporation or otherwise as an entity, including, without limitation, making any amendments to this Agreement as the Manager in his sole discretion may determine to be necessary or appropriate to impose such restrictions.ARTICLE IIIBUSINESS OF THE LIMITED LIABILITY COMPANYThe Limited Liability Company may engage in any lawful business.ARTICLE IVCAPITAL CONTRIBUTIONS4.01 - Initial Paid‑In Capital.

Last night we had a legislative review on new state laws.

Hard to stay profitable Many folks locally are selling their portfolios here and redeploying in more "legislatively equitable" markets. 

utm_source=geniusmonkey&utm_medium=viewthrou gh i think part of that high REV due to lack of inventory due to limited inventory. who knows, not my market Agreed, it's legislative induced demand.

I would be careful with the STRs as I have started to look back into those markets and have seen many investors make a large purchase only to have the local municipality enact legislation limiting STRs in the community.As others stated, the easiest is to buy a MF and live in one unit and rent the other(s).Good luck! 

I would not want the liability if that kind of situation goes southWe all need to keep the pressure on our legislators to enact an anti-squatting law

What happens if legislation is introduced making it illegal to use the unit for STR and you have a lease that still has months of term left?