The 1007, meant for long-term traditional rental reporting, is insufficient for reporting relevant data and misleading to use as a means for reporting short-term rental comparables.
When lending on a short-term rental property and using projected subject property income to offset any portion of the client's debts, it's important to understand what the true income potential is, what the seasonality impacts of the market might be on rent and how regulatory policies may be impacting the short-term rental potential in that specific market.
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