If you do budget that much, the you will easily hit your profit target.There are currently no restrictions in Lewis county and STRs work there, but there is always discussion on them by the city.

Do Snowbirds usually like ground floors since They might have restriction climbing stairs. 

In light of that did the developers wind up getting a pretty decent deal out of this after they took a big risk on a property with crazy restrictive zoning and no clear path forward prior to purchase?

While it’s an affordable entry point with low maintenance, you need to watch out for high HOA fees, rental restrictions, and resale challenges.

If we become heavily restricted, what chance does the rest of the DMV have to get their own regulations that make sense?

I personally feel landlording in Indianapolis is pretty easy as far as restrictions go.  

As with most municipalities and jurisdictions, the evolution of the AirBnB market has spawned regulation and restrictions on where, when and how a STR can operate.

Make sure they know you plan to publicly point out to the local newspapers, Mayor's Office, and anyone who will be campaigning against them, just how stupid and lazy they are. 

In terms of performance, I will be honest with you: it all comes down to your source of lists, the way you set up your campaigns, and last but not least, your templates.

No, it is inside of an HOA neighborhood but the current regulations only restrict rentals under 30 days stays.