Many state legislatures have taken an unfavorable stance against wholesaling in real-estate primarily due to the countless legal and regulatory violations that real estate investors have unknowingly – and sometimes knowingly – perpetrated when attempting to wholesale real estate.

My takeaway is despite all the regulatory changes we've made since the Financial Crisis of 2008, we may have fixed the wrong problem ("in a democracy, we the people always get the government we deserve").Misrated mortgage-backed securities were a leading cause of the Financial Crisis of 2008.

Are they going to be easy to rent, appreciate and is the location a good area to own rentals from a tax and regulatory standpoint?

The regulatory environment in Santa Fe is tough.

Material & labor costs, regulatory & permit costs, lot costs, land prep costs, utility costs, etc. 

I figure it's a route we'll explore to maximize comfort, and wanted to rule out any regulatory limits and other barriers when deciding on any particular unit....that, or more favorably weigh those properties that already have them installed.2) Due Diligence - after searching around, it sounds as though the proto-typical "home inspection" isn't really a thing for PR closings.

The regulatory stuff, it's rather easy to learn and gain command of, it really is, and for most part a non-issue.

C&B plumbing 702-498-5377 came out and snaked a kitchen sink drain, removed and unclogged a p trap and reinstalled for $175 on 5/19They also replaced s pressure regulator in a garage at a different property for $275 on 4/22 so that should be your max, assuming a pressure regulator is same or harder than a valve. on 2/22 they replaced two flappers and 2 fill valves in two different toilets for $250On 1/17 at a third property they snaked a pair of sinks for $160.I’m happy to say that’s all the plumbing I’ve dealt with this year.

If you can't have some regulatory certainty, then how can anyone make any kind of investment in that city?

For Phoenix, Southern Florida, and to some degree Coachella Valley (Palm Springs/Palm Desert/La Quinta - although I despise their regulatory environment and would steer people clear) you could have your vacation rental rented in peak season, as such, to get all the upside that comes with it.