Keep in mind all this stuff is uber regulated, very detailed, far from simple.

Make sure any renovations comply with local regulations and obtain the necessary permits if plumbing changes are involved.

Can regulations change?

Definitely follow the regulations in the area and if permissible I would offer to attempt to find an acceptable tenant and terminate their lease when that happens but in the meantime they will need to continue to pay.

Be sure to understand the financing options out there for mobile home buyers and if you opt to carry the contracts on the homes you sell you should do some research on Dodd-Frank regulations. 

They’ll check if your property, zoned R5, allows a curb cut and ensure it meets zoning regulations.

Just got off the phone with the zoning guy and he said since both of my lots pre-date the zoning regulations in the city, they're grandfathered in so-to-speak, which means I am able to build a single family on each one!

One tip: focus on areas with year-round demand and check local regulations early—they can make or break a deal. 

As much as I hate government and regulation, this kind of BS is why we have it. 

Just be sure to check local regulations because some spots are cracking down on STRs.