Now, courts will provide a check on federal regulators.

One of the things I have been watching in this area are the regulations as @Mike Shemp mentioned.

An extension of credit primarily for a business, commercial, or agricultural purpose, as defined by 12 CFR 1026.3(a)(1) of Regulation Z.

Considering the ever-evolving landscape of Short-Term Rental (STR) regulations, What are the best 5 states in your opinion to build a STR portfolio starting today? 

Curious about the things i cant see on airDNA, and more about how any regulations and state/county specific costs have affected yall before i dive into a purchase there?! 

I bought here because it is an established STR market with existing regulations.

Toledo's regulations are actually much worse, with a number of investors from Toledo PIN suing the city over it.  

Always review your lease agreement and consult local laws to ensure compliance with all regulations.

My beef with the people who teach this are(1) they imply this is somehow related to real estate investing; it is not(2) they imply you can be successful with only the knowledge they teach; this is not true, you need managerial and business skills and knowledge to a degree way beyond the scope of the “training” they provide.(3) they imply you can successfully do this on a part time basis; it’s actually a full time business demanding all of your attention(4) they imply competition is limited; competition is actually fierce, except for the deals on which there is no profit.Additionally, this industry is state regulated, by the state in which the property is located.

That's going to help make or break your market decision-- barrier to entry, purpose, and regulations.