They include: zoning requirements, building codes, impact fees, permitting requirements, design standards, public land requirements, and federal Occupational Safety and Health Administration regulations and other labor requirements.

I did STR in a duplex starting back in 2017 and managed for others in North Conway, Ive since converted to all long term tenants and happy i did so... unless your property has something unique or a "rare" amenity.... like, sleeps 30, I honestly would not waste any energy on it in the north Conway area. so saturated, and so much big money being invested in the hotels, its tough to match amenities vs cost, and I see travelers trending back towards the hotel style accommodations. granted, for the right price, I'd buy anything and figure out what the best use for it is. use airdna.co for decent data on # of Short term rentals in any particular market. can also identify opportunities. the point of my response.... be careful in STR in any area and always have a plan B. you can change a lot of things about a property, but your cant change your basis!

We jointly took part in the design phase, and they got what they wanted and I got what I wanted.

Regs can run the gamut:  STR licenses are unlimited and available immediately with no restrictions, STRs can only be rented so many nights/ stays a year, STRs can only be in designated areas, the number of STRs are capped and there is a waitlist for a license.As others have mentioned, typically an unregulated STR will have more revenue than a LTR, but it will require more consistent work and effort.  

Other empty drugstores are becoming plasma collection centers, thrift stores, and car washes.While repurposing drugstores can be challenging, especially when dealing with building design and community concerns, their prime locations make them ideal for creative reuse.

I know out this way we have to design our project for 100 year storm events.

Market Research: Study the local market trends, job growth, and property appreciation to ensure long-term profitability.

Or is it a binary designation?

Which has been designed this way and is working to get adoption by the banks to replace the SWIFT system, which is dreadfully inefficient. 

This will help you spot good deals as you become more familiar with pricing trends and opportunities.