As @Stuart Udis mentioned, definitely make sure local zoning, legislation, use, etc allows for short term rental space.

 In case no one else posted, this is what Cali is up to.https://www.mercurynews.com/2024/02/29/paw-friendly-proposed...

Does anyone have any proposals on where/when?

It would be a different story if you were buying something that had a proposed development, train tracks, road, etc. 

Transparency I’d look to outline, as if I proposed this JV, is clearly indicating whether I am profiting from the construction contract with any markup; how the budget/costs will be billed and transparent; and what the acceptable exit strategies would be (as I don’t know if the private loan has any security attached to it). 

Yet caught one of the agents as a listing one and proposed those terms, and they graciously accepted them.

I want to make sure I'm acting in accordance with the local government's legislation, but I'm having trouble making sense of all of the information I'm finding on https://www.roanokeva.gov/.How do investors usually navigate legislation requirements when starting renting in a new city?

I just found something interesting: In 2010, when they proposed amendments to 36-60-17 to make things clearer, this is one of the requirements, which would make a water lien sort of like a mechanic's lien, in that they'd have to file suit within 12 months or lose it......I'm going to dig some into that. " (7) A claim of lien provided for under this Code Section 36-60-17(d), shall lapse and be of no further effect one year after the filing of the claim of lien if an action is not commenced pursuant to subsection (1)(vi) hereof on or before that date which is the one year anniversary of the recording of the claim of lien.

He proposed two possible holding solutions for my situation.

Didn't I just see a proposal that would change STR classification so that they will have to pay 4x in property tax?