But there are many more investors chasing every deal that's out there, repair costs are much higher, taxes are much higher, insurance is much higher, regulations are starting to become a bigger issue, and of course interest rates are an issue. 

While we don’t have direct experience with this, we have clients who do, and they usually report great experiences when zoning and other regulations align.

A lot of the discussions here are going to be very much a North American application to investing since regulations and financing are somewhat similar for the US/CA, but likely different for Africa/Europe etc.

There are a lot of regulations for STR in New Orleans.

But honestly with all the counties and different little cities there are a ton of different ways things are regulated, and sometimes depends on the permit office mood and empathy.  

You will also want to check in on your local laws about increases as well as compare them to Section 8's regulations. 

Maryland doesn't regulate PMs (which is a whole other story), however if the PM does have a real estate sales license (i.e., they're a Realtor) then they can be subject to discipline by the Maryland Real Estate Commission, and you can be compensated from the MREC Guarantee Fund.

It’s important to note that if an outside property owner approaches you for management services, you must be licensed as a broker to comply with regulations.

Usually, zoning regulations is for a certain area, and exceptions to it are only allowed after a zoning board meeting, and in my area, neighbors within 400 feet are invited.

Short-term rentals are often regulated by the city and limited to certain areas.