As for business signs, while usually harmless, it would be a slippery slope to make an exception just for certain types of signs so we just went with an all out signage ban.

You obviously don't want to purchase an investment property if you're going to have to deal with a ban or change in regulation for STRs.

Some have common sense regs and are solid, some are on their way to banning them.For the most part, the bigger the city, the bigger the problems.

Currently, the city of New Orleans has implemented a moratorium on all STR registrations and licenses for the time being.See the following news articles for more info:  New Orleans City Council passes total ban on new residential short-term rental permitsNew Orleans City Council extends temporary ban on new residential short-term permitsSee here for info from the city:  Current State of Residential Short Term Rentals (RSTRs)

The ban expires in 2 years. 

That HOA could increase that charge in a heartbeat, restrict them or ban them altogether.You would be at the mercy of the HOA and no one needs that.

I think the three best tips I can give on this topic are the following:Given the uncertainty surrounding the future regulatory decisions to be made regarding short term rentals; I STRONGLY suggest you make sure that the property would perform well enough as a long term rental for you to be able to survive a ban/moratorium on VR's.

He thought the possibility of a ban would be slim to none. 

The risk you run is violating your terms of service agreement with those platforms and being permanently banned.

Banned STR, restricted STR, no problem STR...