These costs for most of the individuals are considered personal in nature (unless you have a RE portfolio that is run like a business; see below).

It's probably unlikely anything too bad would happen excluding natural catastrophes but why take the risk if the profit potential isn't there?

Registration is only permitted for legal entities, partnerships and natural persons who are 18 years or older.

What ROI do you need to justify the liability and active nature of owning a rental property?

The existing number of vacation rentals are so far over those caps that anyone who gets on the wait list today will likely wait 5-10 years before they're up for a permit.I do think this is the natural progression of what is still a relatively new industry.

Licensed contractors have more of their "shtuff" together and thus are better at their job and naturally will cost more.

This is largely due to the fixed nature of ongoing maintenance costs, which become proportionally more impactful as the park size decreases, thereby inflating the expense ratio.

This has become challenging due to an increased interest in the historic district in Dubuque due to revitalization plans that include 18 million dollar investment into the historic downtown area. 

I agree that rates have naturally adjusted with the rise in the Fed rate, and it seems like the 10-14% range may become the new normal for a while.I’m curious—what’s your outlook on how this rate range will impact new investors entering the market?

It’s just the nature of the beast.