I will definitely file that in my mental Rolodex.

AirBNB specifically recommends language pertaining to allergies and service animals - you can state in your listing that you don't accept any animals (don't say "pets") due to allergies and it being a health risk to you or a family member.Again, definitely look into the laws yourself, but between this being your primary residence, your only STR, and you having allergies, I don't believe you could be required to accommodate service animals.

I do not plan to manage the property myself, but that mentality would be really wise for someone whoo is planning to do that.

THIS IS A HEALTH HAZZARD! 

But if you can get over that mental hurdle investing out of state is a great method to find a good deal. 

There is even a Centro de Salud (health clinic) for minor health emergencies.

So my previous experiences with this realm of legalities give me the same "figure it out yourself" mentality.  

What is important is that you have all of your finances in order and are prepared (mentally and financially) to invest if that’s what you decide to do.What type of investing are you considering?

Specifically about the Job and Population growth, Vacancy rates, New building trends and general health of the Multifamily sector in NM.

If you do this wrong you could get sued and it will cost you much more in time and mental stress...