I've experienced the same quandary you have, @Trey Knight, both my wife and I work, have 2 small (needy) children, volunteer our time on committees and community, and own 27 units, actively managing 23 of them!!

That is a number set by HCIDLA, the oversight committee in LA for all Rent controlled areas.

Purchasing a 4/2 house for $45K with a 30 yr mortgage, added $12K in repairs, renting for $955/month.Purchasing a 3/2 home for $23K, added a new HVAC and duct work, and which rents for $750/month.Spending days mentally rehearsing my speech to ask for private money to fund the third deal only to have him say "yes" in under 30 seconds and on my terms.Being invited to be a part of the Atlanta Housing Authority's Landlord advisory committee, where I get to learn (for better or worse) the inner workings of the city's Section 8 program and hang out with investors way more experienced than me.     

An update from today -- "A bill intended to block Birmingham and other cities from passing their own minimum wages won approval in a state Senate committee today.The bill could now get final passage in the Senate as early as Thursday."

It is certainly supported by the 2002 position paper prepared by the Committee on Securities Regulation of the New York State Bar Association.

Well since this is now moving to the Senate you should contact your Senators and let them know how you feel about it.In person - on the phone - in emails - through US post office.To their state office - their local office - their DC office.This bill will not pass in its present form in the Senate so it will be changed and go to committee and then might be voted on again so you need do the same for your house members.Once the final bill is out and you know what your dealing with you can make plans - till then - make your opinion known (not just here - but where it counts - in DC).

The Republicans can keep any motion for any bill they make on the bottom of the pile, keep them from being on any committee, basically keep anyone out of the loop and basically impotent with regard to any other compromised bill.

Just make sure it will cash flow on a month to month for an exit strategy when the county makes laws to limit short term rentalsI went to numerous committee meeting when they were coming up with the draft before they pulled the plug in Jan 2019 but they can start it back anytime.Currently it is illegal to short term rental at the beaches and they haven’t cracked down on it yet but just another thing to think about when you are investing.

That was when I concluded that most elected officials were idiots.I know a former state senator from Nevada who sat on the Finance Committee when she was in office.

http://hankjohnson.house.gov/2010/04/rep-johnsons-statement-on-guam-comments-in-an-armed-services-committee-hearing.shtmlAllow me to elucidate.