However, it wouldn’t affect investments made indirectly through a local company in Europe.That said, I believe it would still be possible to invest strategically to mitigate the impact of such regulations.

BUT know your jurisdiction's regulation on screening.

In the last few years, they've made illegal:-Rent controls of any kind-Limiting of fees or screening charges-The ability of HOAs to regulate STRs or LTRs in their neighborhoodThat's just the start.

Another option is to look into some funds as well that allow smaller investments. some are anywhere from 500-$10,000 minimums and accept non accredited investors (through regulation a+).If you ran numbers of a loan paying p&i at 10% but ot being able to reinvest the principal payments you realize how low your returns actually are. so yes notes are great but also understand that idle money for any investment is not fun.

My absolute best advice with ANY STR prospecting is to contact the municipality in charge of regulating that area of region.

I understand Vermont has slightly more stringent regulations to contend with but it would also be closer for us geographically and thus potentially easier to manage. 

The insurer is not subject to the financial solvency regulation and enforcement that apply to California licensed insurers.3.

Yeah, it is based on the state's regulators.

Very good point.In the case of Arizona, I have been unable to locate any state law / code that suggests Arizona may have additional regulations. 

@Eric Andersen definitely put weight into what @Michael Baum wrote and do your own research on the city regulation/zoning.