Can you explain exactly how this "Ordinance or law coverage" works? 

HelloMy spouse and I are exploring the idea of purchasing a short-term rental property, primarily for the tax advantages.

@Sara Tranum get a copy of the policy and see what the liability coverage is!

Unlike long term rental, short term rental performance is very operator dependent.

A pool increases risk, so it’s wise to add liability coverage or an umbrella policy.

My question is, should I feel safe and move forward with this if I buy good short-term rental insurance or in your experience what should I do to feel protected?

Purchase price: $122,000 Sale price: $165,000 Duplex Long Term Rental

A great way to get a feel for start-up costs is to get the paid version of ChatGPT, use the deep search feature, and try a prompt such as "How much does it cost to furnish a 2-bedroom 1-bathroom home for short-term rentals in Minneapolis, MN?"

Even once the temporary work moves on there is often still a need in these smaller towns where these centers are gettign built at least in our market for more permanent or long term housing. 

But there are other options beyond hard money, especially if you’re open to private lending solutions like what we offer at Easy Street Capital.One route that could work well depending on your plan is a DSCR loan—short for Debt Service Coverage Ratio loan.