With the new regulations Cleveland passed that makes the resident agents liable for the properties, I'd expect property management rates to rise to 20% in Cleveland over the next few years.

I can only say that from our 100s of clients in your situation who are helping family in India and Pakistan own in the US, it widely depends what rules and regulations to follow based on your facts and circumstances.

There's also a law that HOAs are not allowed to regulate property use in any way, meaning they can't tell you that you can't have an STR or LTR. 

There's an entire semester-long course in law school called Civil Procedure (the absolute worst - *shudders with fright at the memories*) about figuring out the answer to that question based on the facts.

What’s your plan B if they ban or regulate STRs like they’ve done in other European capitals.

If you're not working with an agent, I'd be happy to answer any questions you have about our market and zoning/STR regulations.

Thanks for clarifying its not a foreclosure sale but instead, an REO sale (Which i suspected), which is for all intents and purposes, a regular real estate transaction between a buyer and a seller, which has rules and regulations for each transaction.So, as a banker that sells REO, i would ask myself what it is you are hiding.

The regulations seem vague to me.

Keep yourself informed about real estate laws, regulations, and market trends to stay compliant and knowledgeable about legal matters.

Do some research on the rental market, looking into things like rental rates, vacancy rates, the demographics of potential tenants, and local regulations.