For larger tracts, entitlement and zoning are key, so I recommend working closely with local planning and zoning departments early on to understand regulations and potential hurdles.

A CPA familiar with local STR regulations can definitely help make sure you’re set up correctly!

I'm also a realtor. with the real estate professional tax status.

Many BP’s are reaching out to tax professionals here.

Quote from @Mark Conrad: You definitely want professional help before buying in US.

Zoning and Regulations: Even with SB-9, there are some restrictions, especially regarding fire hazard zones or environmental issues.2.

I’m in the early stages of narrowing down markets and evaluating STR regulations, so once I finalize that, I’ll focus more on the design and amenities side.If you have any advice on pitfalls or ways to stand out in competitive neighborhoods, I’d love to hear your thoughts!

Valuation depends on your market = i.e. volume of STR supply and regulations. 

If I understand the Act correctly, the regulation allow one spouse transfer loans to another spouse keeping the existing terms without the regular qualifying requirements.

Ultimately, it depends on your comfort level with the local regulations and market dynamics.