Many HOAs for prohibit or otherwise restrict STR.

Default by TenantTenant will be in default (Default) if: (i) Tenant fails to pay any Monthly Rent by 7 days after Monthly Rent is due and does not cure the failure within 7 days of receiving written notice from Landlord; (ii) Tenant fails to pay any Additional Rent by 7 days after the Additional Rent is due and does not cure the failure within 7 days of receiving written notice from Landlord or; (iii) Tenant fails to comply with any other obligation or restriction in this Lease and does not cure the failure within 7 days of receiving written notice from Landlord.

Just about to close on one with @ray for a client in Tampa that we got at an absolute steal - located in seminole heights, fully renovated, 3bd house + detached 1bd ADU and secured it for under $450k. 

@Mimi PerezThe restrictive HOA will limit your future options and continue to be an expense.

Unfortunately, our HOA’s trying to enforce STR restrictions so we’ll see how that goes.

If you're planning to buy and hold, then you'll have to check with the city and/or county to see what restrictions (if any) exist for that piece of land.

Some of the HOAs have become very restrictive against investors.

@Samuel Olivas MSHDA loans have income limits and believe area restrictions also.

I personally found I’m good at it if it’s a simple job, normal easy walls, but hire out if its 2-story height, painting cabinetry, wood windows etc as they are a all a big pain.

Similar to a previous comment around looking at future developments, Miami’s ready to pop areas are little Havana, allapatah, Graceland Heights, Little Haiti.