You will have to bring this up to legislators and try to change the law.

STRs have been plagued by negative market news and legislative uncertainty. 

Once you understand a little more about the legislation and laws in place the tenant laws will not be so scary.For a 10k a month cap rate you are looking at inventory that would either be a luxury single family home or a multifam that would be 4 or more units.

Even so, if you aren't submitting any claims to CMS I wouldn't be concerned about legislation.

While this legislation is proposed nationally, its lead sponsor is Sherrod Brown who is from Mansfield, not far from Cleveland.  

Also, in Southern CA, we have a lobbying group named the BIA (Building Industry Association)...they lobby for pro housing legislation both at the state level and city/county level. 

As a result we can expect legislative initiatives in the future that place curbs regardless of legitimacy of any individual transaction. 

All in all, the city really looks down on Ellis Act evictions, who knows what other future legislation will affect you in doing that type of eviction.Note that if you do an owner move-in for the non-protected tenants, you'll only have to pay them around $6k per tenant (double check the city website to confirm).

The federal CARES Act requires a 30 day notice in certain evictions where the property participates in certain federal programs OR the property owner has a federally-backed mortgage.IMO, the CARES act is an unlawful piece of legislation that has poisoned America, but if the above clause is true, it is an OR statement.

I have qualified dividend income from several of these and the legislation I've seen effectively say that 'income from a K1 is viewed as qualified income'.