Tax law requires it.

I'm an investor as well as CEO of a property management company that works with many out-of-state investors, especially from California, for exactly the reasons you mentioned – high prices and complex tenant laws.

All this is doing is delaying the process by a month and it'll become law.

Yeah the law changed I believe back in 2020.You cannot do short term rental with an HPR unless you own both sides.   

For example, for a business owner; they have no practical way to 1031 exchange.

Duplex can always add additional units via the ADU laws. 8) Related to number 1, purchasing a property with an existing ADU is cheaper than buying a property and adding an ADU.

>Do the local laws allow short-term rentals for off-grid cabins?

The previous company wanted to do something similar, but our attorney pointed out that this wasn't allowable under Florida law.  

Disclosure laws vary greatly by state.

If you are able to manage it yourself, I think you will get a lot of very helpful education in real estate by spending a least a year or two doing that.You'll be able to work with property managers a lot better if you've done the work yourself for a bit, and it also helps to get familiar with the various laws and regulations you have to comply with as the owner, even if you do have a property manager in place (e.g., the new RI rental registry and associated lead paint inspections/certificates).It's up to you whether you're able to do it, but I think you'll get a lot out of the experience if you can try it for a year or two.