So once you place a tenant in there it should be pretty passive with some minor internal repairs.The downside is that the condo association could have a reassessment of fees and blind side you, they could ban renting out of units or restrict them (i.e. no short term rentals, can't rent out for more than 6 months out of the year, tenants need approved by COA), and just overall less control over 100% of your property.

@Dominic LitzShort term regulations on cape are pretty lenient and none of the towns have banned them.

 ;)I’m also not mentioning the fact that there hasn’t been 1 case since the ban has been put into affect where an investor has been fined for wholesaling in Illinois.

They will be restricting the # of STRs that can operate in certain areas, the # of people you can have staying in a house, length of stay restrictions, limits on # of days per year you can STR, there will be home inspections, etc; they are also outright banning STRs in many residential areas.

Am I crazy but why isn't anyone banning together and lobbying for landlords rights.? 

Account Closed That's a good way to get banned.

Rental inspectors will look for peeling paint in homes built prior to 1978, when lead paint was banned for residential use.

In other words, maybe it's an STR today but what if next year the local town council brings in laws that ban STRs?

Many ordinances stop short of banning owner occ STRs, those that own a certain number of units, operate less than so many days a year, etc. 

I would like to say how I feel about them, but that would probably get me banned again by the moderators.24 STRs is what I have.  5 houses are currently available.