Maryland doesn't regulate PMs (which is a whole other story), however if the PM does have a real estate sales license (i.e., they're a Realtor) then they can be subject to discipline by the Maryland Real Estate Commission, and you can be compensated from the MREC Guarantee Fund.

Did you go with an LLC right when starting out or was there a more appropriate transition point say one or two years later? 

Charging lease fees is highly regulated as well.

You will have to spend countless hours trying to learn the laws and regulations of each state and you will never be great at any of them.

But there are many more investors chasing every deal that's out there, repair costs are much higher, taxes are much higher, insurance is much higher, regulations are starting to become a bigger issue, and of course interest rates are an issue. 

I am seeking information on market trends and regulations concerning STR in the Hampton Bays area.

While we don’t have direct experience with this, we have clients who do, and they usually report great experiences when zoning and other regulations align.

A lot of the discussions here are going to be very much a North American application to investing since regulations and financing are somewhat similar for the US/CA, but likely different for Africa/Europe etc.

@Jacob Caffee, I think what John is getting at is: on BiggerPockets, there is a mid-term rental forum that would be the more appropriate place to post this request.https://www.biggerpockets.com/forums/925

It is our job to facilitate and make the process smoother while selecting the most appropriate product/lender based on your overall goal.