I will certainly check in with the commissioner office in MN on licensing.

@Damian Prusa we own 3 short term rentals in King County, and 1 in Homer, Alaska.I'll echo what has been said about Chelan - the new commissioner is more supportive of STR's, but you'd best wait for the official regulations to be signed into law before making a purchase.Cabin inventory is extremely tight, and with the HUGE interest in STR's this is one of the few parts of my business I don't like sharing publicly on Bigger Pockets.

This may seem silly but many Europeans don't even have the same appliances, heating systems, sewer systems, etc.

We have a better debt to income ratio than several of our European counterparts.

Unlike Greece or Spain who are part of the European Union and cannot print Euros, we create wealth by infusing liquidity and our economy expands. 

More and more Russian and Easter European money are either moving or investing here.

There may still be a window where buying makes more sense; especially if you buy a property that does not have rental restrictions - many Europeans come for a month or two during the summer. 

IMOI went through this very issue as a Commissioner of our local Public Housing Authority.

A sword doesn't work"... if you get killed every time you are in battle,  or if only one person keeps killing everyone in the medieval European wars, are you going to say "swords don't work"?

Over the years, I ran several matters past RE Commissioners and the State Finance Department, Division of Banking for clarifications addressed to Counsel and received their guidance.