Both practices are largely unregulated. 

I pick close-in burbs with good access to public transportation.  

As others have mentioned above, Bloomfield is certainly a solid option for rental properties and has been for a number of years due to the easy transportation options to NYC and other parts of NY/NJ, leading to great rental demand and pricing.

You probably can’t put locks on individual bedrooms because that would turn your building into a hotel (unregulated, unregistered).The polite description of your plan is “folly in the extreme.”

Proximity to new transport links, business hubs, or recreational areas can increase your property's value and attractiveness.6.

Some items considering:- Chichen Itza- Swimming in cenote Ik Kil- Valladolid Centro- Las Coloradas- Izamal- Akumal beach- Shopping in Playa del Carmen- Tulum Ruins- Cenote Dos Ojos- Xplor- Parque Nacional de los Arrecifes (cozumel island)Have not yet looked into transportation or lodging for period outside the conference dates.  

Houston's short-term rental (STR) market has been unregulated up until now, but that's set to change by the end of 2024.

How BiggerPockets, @Alexandra Hughes Pailet, and @Katie Miller went with the flow as the weather threatened (and did) to disrupt all of our outdoor events, travel, and transportation.

House hackers looking to buy close to public transportation has been a huge win.  

Regs can run the gamut:  STR licenses are unlimited and available immediately with no restrictions, STRs can only be rented so many nights/ stays a year, STRs can only be in designated areas, the number of STRs are capped and there is a waitlist for a license.As others have mentioned, typically an unregulated STR will have more revenue than a LTR, but it will require more consistent work and effort.