A good deal is a good deal, however with that said you also have to resell the property so you have to be in a place where people have money, access to credit, and want to live.   

If anything that might restrict building but I don't see them running out of water for existing homes so wouldn't that mean home values going up because supply would be restricted.What kind of climate risk could occur there?

Any investor with this track record should have access to debt at 10% interest with 1-2 points, or potentially even less for someone their size. 

and act like it isn’t their business And don’t have access or ownership of things.

I don't have any restrictions on pets with the exception of 2 things: no dogs under the age of 1, and breeds listed on my insurance policy that are not accepted. 

However, upon finally gaining access to the home it appeared that the water was running from every faucet in the house.

An increasing number of cities are placing restrictions on short term rentals, including on the Oregon Coast, believing that they cause a housing shortage for locals. 

You have no access to the property so you are buying sight unseen and subject to any and all liens.

Yes, Chicago has strict regulations for short-term rentals, including mandatory registration and zoning restrictions.

And I have access to value add and multi family properties if you are still looking.