I’ve flipped a few houses and talked to a few investors and this is one of the biggest horror stories I’ve seen working with contractors.

I actually interned for a company in Iowa City that did real estate, property management, new home construction and development.

Still expensive though.And why would you want to invest in a city with rent control?

I'm looking locally to start out (mid size city in North Carolina) - is the answer a different market?

Sometimes the housing agencies help to correct behavior of a tenant who is violating a lease.Cons - The biggest con is just government bureaucracy.

However, one of my biggest concerns when fixing homes is knowing when to use permits.

Zillow is the biggest real estate website but it helps listing on other sites. 

You might also want to double-check if having a local property manager satisfies the city’s requirements or if the operator still needs to meet the residency rule.Good luck with your Airbnb arbitrage—Cincinnati can be a great market! 

If you want a city, Philly can be done if you know where the blocks break.

You might need a 2nd well if you're not on city water.