Then a hiring increase for local regulation officials or private sector to assess housing quality & approve it.

More deals are killed by procedure and regulations than anything else it seems. 

Again, large commitment of time, patience, and ability needed.The amateur of “semi pro” investor should realize that the professional investors (such as myself) spend ALL DAY EVERY DAY doing the above.  

Readers should seek professional advice.

Readers should seek professional advice.

However, consider STR seasonality, local regulations, and management demands, and ensure your equity loan and new primary residence costs fit comfortably within your budget.

But be prepared because you are probably dealing with a professional tenant.

I'm not as good a professional but the work I did was mostly good enough for us to live in, and the small fixes to make it good enough for renters has been worth trying to do it myself.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

That would probably require a professional.