This would potentially alleviate a down payment killing your cash position. 

Generally these kinds of ordinances aren't strictly enforced, but if they feel your unit is a nuisance because of noise, drug activity, etc then they might use that type of ordinance against you.

I won't go on with the novel, but he are some other red flags: 1) When I showed up to the acquisition manager's house, his wife was running late as she was coming from two eviction hearings at court that morning. 2) At one point on the tour, a young man dressed in stereotypical ghetto ware approached both the PM and Myself in front of a house (I wasn't sure if he was going to try and sell us drugs or what) and said that we didn't look like we belonged in the neighborhood and "are you guys investors?".

Then combine that with market forces pushing many people into the same areas of the country, where you cannot build fast enough to satiate demand for the next 5-10 yrs, and construction costs rising meaning new supply will have to charge a lot more to be financially feasible, conflicting government sentiment to help alleviate the costs (whether it be not subsidizing developers, or not subsidizing tenants).  

We drug our feet too long on the property initially of interest, and we got outbid.  

But to judge a property as “an Airbnb” or “a VRBO house” misses the point of using these platforms for listing various types of short term stays, and I hope that my mountain cabin isn’t considered “an Airbnb” and compared to some drug den rental arbitrage operation in LA just because someone booked my place on the Airbnb platform when they could have chosen VRBO for the same thing.

Drugs?

But i will keep educating myself and hopefully atleast get one deal so i can show my 80 year old mother that i can make it as an investor.. i love RE and wanted to be an agent years ago but i aslo had a drug problem and wound up with some felonies.. now im over two years sober and my family is proud of me.. i try to help the home owners not irritate them.. my dream is to be like several of yall thats on this thread but until i can buy my own property i pray i can atleast find a buyer for the leads i have coming in.. thank yall for all the education and information.

Turned out the guy had a long criminal history and had drug issues.

So in getting your draft promissory note prepared, make sure it alleviates your risk as much as possible.