I would look for investments with owner financing to skip past that requirement.Maybe you can partner with your parents on the first property?

@Patricia Smith Even if someone give you a referral, what meets their expectations, may not meet yours.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

One land speculation I bought 4 acres in sonoma County CA ( wine country) in 96 for 27k it was unbuildable at the time ( could not get a septic system on it) Well city grew to us The Graton Casino comes in right across the street and we sold a few years ago for over 2 mil to a land assemblage investment company.

I know some municipalities allow the property owner to obtain permits but  that in itself is a huge issue in many areas and secondarily insurance is critical in this business.

This could be a 0% owner by the letter of the law...What are the Reporting Basics?

Tenants tend to be harder on the home than owners.

Obviously the HOA is keeping values in this neighborhood down because an owner would have a mortgage plus another $715/mo for the HOA, which only covers use to a community center but nothing else.Besides holding costs, is there anything else I should be concerned with for a flip on a land lease? 

As a new owner, you should confirm if you can raise the pricing on the rent, and do that accordingly to the laws.

LDs assist both the GC and owner.

It's worth mentioning the STR regulations are relatively new, and I think some properties currently operating are basically grand-fathered with the old permit, and I don't know if being a new owner one'd be able to get a new permit if it's not in the designated location.