I'm curious to learn about where the best areas to buy are, how your properties have been performing over the past year+ and what the regulatory environment is like.

Depending on your concept you'd then be looking for a site, do your research on market trends, economic conditions, site opportunities, site constraints, regulatory factors, off-site conditions, etc. 

This might be good standard practice even when it isn’t a regulatory requirement.  

Here is how an attorney breaks it down:https://www.richardhornsby.com/crimes/regulatory/unlicensed-practice-of-real-estate.html

While I am not overly fond of regulatory oversight/overreach I do believe there has to be some industry body protecting the individual investors (hopefully private industry).  

At least in cities with adverse regulatory environments like Raleigh, requiring operators must be full-time residents and stay in the property for the duration of a short-term rental, I don't see how this (Airbnb) could scale into a business.

There is risk to the seller of legal or regulatory action if the buyer, for instance, violates certain consumer protection or mortgage servicing rules or laws.

(Most sell when it goes down but fastlaners buy)The real estate only crashed (truly) once in the last 100 years in USA (Canada was immune during the 2007-2009 crisis due to its stronger and more regulatory banking system)  but future tellers from hell keep predicting the next crash.....Follow market and economic fundamentals and carry on. 

Granted I'm not digging into their financials.I believe the fractional ownership (i.e. cryptoization) of real estate is massively overblown and will face enormous regulatory hurdles.

I actually often choke when reading some writer's opinion that is based on his interpretation of regulatory law via what he/she read on Google or some other site.