With the cashflow it was throwing off and the way the market is, maybe selling is a bad idea, but...we're in Illinois and the regulatory climate here is....questionable.

Problem in California is labor is a killer, both from a financial and a regulatory point of view.

This is an essential document for legal and regulatory purposes.Apply for Subdivision Approval: With the plat in hand, you will need to apply for subdivision approval from the relevant local authorities.

In many, if not most, states there is no regulatory agency overseeing HOAs.

Regulatory and Legal Understanding: I will also need to navigate the legal and regulatory aspects of real estate investment in California.

I used to include the Coachella area but that whole state is a regulatory minefield and not super owner-rights friendly... and taxes.

If they decline, I'd consider filing a complaint with the CFPB and whatever other regulatory agency supervises them.

The STR space has gone through some regulatory changes since the summer of 2022, so it's important to check zoning laws before making any purchases. 

The other thing you expose yourself to is regulatory risk.

Regulatory Landscape: Keep in mind that Florida's short-term rental regulations can vary significantly from one city or county to another.