However, if the PM fulfilled their regulatory/legal obligation to transfer documents to you, they should have included a copy of the application as well.

This means good net population inflow, low taxes, pro-business/job-growth and a relatively inert regulatory environment.

These sentiments reflect factors such as appreciation potential, regulatory risk, business risk, effort and more…The question you should ask yourself is how much effort do you want to put in and how much risk do you want to take on.

Would any BP investors in this market share regulatory insights on what to do to get approved for STR, am I better to focus search out of the city limits, or has Asheville started allowing out of state investors that are not permanently dwelling in the residence to buy in the city limits. 

Renting from a regulatory perspective is more difficult in Los Angeles county, but the price point might mean a higher profit for flips.

Is the regulatory enviroment challenging?

I would still contact your insurance regulatory agency within your state and get confirmation on that.  

(They have a page that indicates they may address them sometime -- but no word on timeline.)If you buy in one of the cities that actively allow Airbnb -- Arvada, Wheat Ridge, Centennial or (soon-to-be) Adams County -- then you have much more regulatory certainty.

The era of mom-and-pop landlords is coming to an end in Philadelphia because of the regulatory obstacle course the city has built.

Debt service coverage lenders will not lend to you as a owner occupier because they are not set up to comply with HUDs notice and regulatory provisions.