Both of those towns have stringent rules about STR's that can make it more difficult to find the right property that will fit your strategy.

My out-of-state clients (most of them from California) are successfully purchasing rentals here that meet the 1% rule and have steady cash flow.

In this case, since you're denying based on your own research (court records), this may not apply, but it’s good to stay familiar with these rules.4.

See below for general rule of thumb.1.

Get a new PM, this one doesn't understand the rules and responsibilities they're supposed to be applying. 

My out-of-state clients love it here because they can still find deals that are cash flowing and hit the 1% rule.

Lenders may have subsets of rules or guidelines for areas that have very high default rates such as increased min property values or experience being required, but other than LTV's going down for a while by 5% in late 2022 I haven't seen anything crazy.

For example, if an HOA establishes a rule regarding exterior paint covers, deed restriction enforcement would be with that HOA.It is important to be aware that liability for breaking a covenant rests with the titleholder to the property, even if that individual is not the one who technically engaged in the deed restriction violations.

Nearly all of our clients start out with Rule 506(b) offerings.

How are we seeing this rule change play out in practice?