LA has laws restricting it if it isn't a primary residence, no more than 120 days, etc.

With the new STR laws in Chelan County putting lots of restrictions on STR owners, occupancy limits, and a cap on the number of STRs in certain areas it is very difficult to get into the STR market here right now.

Condos can be a good option for new investors, but updating kitchens and bathrooms might not add as much value compared to single-family homes, especially with potential restrictions from condo associations.

Unincorporated Los Angeles will vote on STR restrictions soon.

I think best way to go is choose some areas of interest and verify STR restrictions.

If it clearly states no smoking in or around the premises, then you can fine them (depending on your state restrictions, maybe even per diem), this may incentivize them to quit or place their notice to vacate or you can offer them a non-renewal when the time comes. 

This practice is very odd to me.

Hey there @Sarah Miksa - That is super surprising to hear that your condo HOA doesn't have any short-term restrictions. 

However, downsides include regulatory restrictions on bank lending, many institutions that restrict concentration and geographies, and other headaches and issues that arise when dealing with a slower-moving bank.DSCR loans are the option that has completely changed the BRRRR lending landscape in the last few years.

No restrictions after that.3) Depends on insurer.