They seem to operate a bit like the stock market... they can get spooked by world events and need time to settle back into certain products that to us seem "normal".I went to another bank we use and where they hold one of our mortgages and they said, "We have the product, we just aren't writing it right now"... which leads me to believe it's a pretty standard pullback given the concerns over how the corona virus will impact any particular market segment.  

Dividing the property into separate lots and placing them in distinct LLCs is a smart move to limit liability.

Everyone I know performing in the STR segment universally has a laser focus on the operational aspect.

Thanks again, I appreciate you making that valid and important distinction,Adam Adams

Yea one thought I had is that the rental market would be stable to even better, because the higher rates would move a segment of the population from affordable to not (i.e. have to rent) - but perhaps that gets cancelled out by lower house prices.  

I know some zoning codes don't make a distinction between the two which is a bit unfortunate.

Unfortunately they have a small segment that some will argue  conduct themselves like savages, but itś in no way an indictment of most.

Typically larger groups have more people splitting the cost and it has not affected us in occupancy versus our close competition.I would maybe be wary if you are in a hyper competitive market or market segment. 

Done correctly, I think it further segments your liability since the property (the LLC holding Title) is now separated from the leasing activity (the Mgt LLC).Good luck.

As Harry came to dominate a large segment of the NYC real property market, this became a serious costly mistake for those who Harry thought had not acted ethically.