Avoid Over-Improving:Avoid making luxury upgrades that don't add significant rental value.

I invest on a slow and part-time basis which suits me.

You might be able to sell off fractional interests in the property but that is typically done with luxury properties to allow the owners to participate in price appreciation while the asset is held.

For example, when I first started out, I sat down with a luxury real estate developer and told him I was thinking about buying apartments.

I have worked with agents that needed help filling out the description of the property (example of the bad ones)I'm not an agent but I can only imagine low price properties are MORE time consuming than a luxury home.

But even though they are paying their way, they still live a very luxurious life compared to what I had.

Once you understand a little more about the legislation and laws in place the tenant laws will not be so scary.For a 10k a month cap rate you are looking at inventory that would either be a luxury single family home or a multifam that would be 4 or more units.

We have a local STR organization that has filed suit against the STR quota implementation.   

Yes that is my concern however isn't owning and having a bike some type of luxury and not something that is an actual need that needs to be accommodated?

Each investor should choose courses and mentors that suit his or her goals.