I'm in disbelief about the lack of knowledge - I'm not an agent. 

Sometimes they have off-market properties they’re ready to sell, and that’s a big win for you (less competition and more opportunity!)

I think these regulations improve accountability, generate revenue, ensure fair competition, protect neighborhoods, address housing shortages, and promote responsible property use.

I think the worst are the ones that will say they can do something for you or bring something to you then do nothing at all/fail to follow up or stay in touch (lack systems, organizational skills, and actual work to produce).

While it's a great spot with a ton of tourism unfortunately, it seems the hotels view STR's as competition and have helped to encourage the strict regulations.

However, smaller properties tend to have asking prices influenced by factors like local demand or future appreciation potential, not just rental income.If you're finding that the numbers from the cap rate approach are consistently coming up lower than the asking price, it may be because the market value is being driven by different factors, especially in a competitive or appreciating area.I’d recommend using comparable sales as your primary tool while keeping the income approach in the back of your mind to avoid overpaying.

It’s an underrated market that still offers solid cash flow and equity growth, with lower competition.

My question is do I have any legal course of action against the property management company and would it be worth my time and money to go after them for "lack of them doing their job"?

If they make 3k a month, you'll probably top out at 1k for rent.Also, go on apartments.com and zillow and see what the competition is charging.

I see the reason so many are uncomfortable, is a total lack of understanding.