Two contributing factors are high construction costs and regulations that make obtaining a construction permit difficult.California already has a large housing shortage.

Not sure if its a regulation issue or what it is, but I've only been able to even entertain the idea of doing business with HMLs on the MN side of the border. 

This country has the toughest regulations when it comes to Equal Housing Opportunity for the most part, except when it comes to convicted felons.

Usually the landlord regulation is not applicable if it is SF with owner living in the unit, just saying.

Many people are finding themselves in the same position as you due to local regulations.

There's a limit to how much repairs can cost vs. a complete raze and re-build(will check current regulations to see what they are).My only concern are the liens and the problems inside.

Generally speaking, per the NYC Zoning regulations, a R4B is limited to a maximum of 2-family homes.

I keep telling my fellow US investors how spoiled the are every time they start complaining about something (taxes, fees, regulations, rent, compliance, etc.) in the USA market ;-) Try making it in Europe and you'll need to toughen up by bringing along more time, patience and expect less yield.

Depending on the purpse of the BPO and regulations in your state, you can just call a broker that you like and have them give you a BPO. 

We have seen a general drop an overall short term rentals mainly due to regulation.