Jobs, business, legislation, investment?

One definition of fair is that legislated by the CA legislature that Brokers have follow ... trust deed investor (aka pml) must be "suitable" for the investment, have less than 10% of their net worth in any one loan, with the ltv being no more than 75% (for a sfr) of the as-is value.

@Andrew Zack JenkinsSo, what happens if you secure several long-term rental contracts to rent out as STR and the local municipality then passes legislation making STR's illegal?

I was active in city council when they were deciding the new legislation.

The big thing is if you are in that area understanding the short-term rental legislation in some towns and how it would impact doing a house hack short-term combination

@Dan Weber This is exactly why landlords need to be more active in the legislative process.

I've spoken with a few people who are buying, but the majority of advice I receive it to stay away- mostly from Poughkeepsie due to the crime, schools and city legislation.

I am looking at the STR market there in Oregon but am concerned about the local legislation around STRs.

When I got started a decade ago with my first rental I jumped in with both feet and figured out what I was doing by LEARNING continuously, a skill that I feel is the most important facet of success in real estate...you have to know city code, pending and present legislation and tenant law, what tenants desire and how to cut through the BS that will inevitably be throw your way, also build your internal compass of green light / red light which tells you when to get a purchase agreement written up or turn down that tenant application who simply has to move within the next 48 hours.

@Gary Swank The city decided to create a legislation to handle it themselves and it is killing landlords and property managers.