Zero regulation now might lead to oversupply with no barriers to entry and then could swiftly change to a super difficult regulatory environment whereby STR becomes undesirable.

Although this education is almost 100% focused on legal requirements and regulatory agencies. 

Don't get fooled by the PR angle of "public safety", requirements are minimal other than providing established business with regulatory capture.Given the real incentive you see why cities will play ball with AirBnB but not Uber.

Increasing market volatility and asset class specialization is driven by three things: 1) Consumer demand, and 2)Banker options, 3) Regulatory climate.  

Jumping through all the regulatory hoops is what costs so much money and to compensate the contractors for the amount of risk and compliance paperwork involved.

The second BK peak after regulatory changes was in 2010.  

Licensure only covers the regulatory issues so the State can come after you if you mess up. 

For anyone interested in buying or selling a property in Indianapolis, particularly in revitalizing areas such as Fountain Square and Fletcher Place, below is an Interesting article in this week's Indianapolis Business Journal about appraisals (see link).In short, with recent strong demand & price increases in some gentrifying neighborhoods, appraisers are quite cautious to give higher appraisal values for various reasons, including regulatory/legal reasons.Additionally, it is further compounded by the fact that sales prices and property values can change significantly in the matter of a few blocks in Indianapolis, so often it is very difficult for them to find true "comps".  

@Jake GoehringIn my opinion, if you don't already have a source you can go to, (such as an attorney well versed in private lending and a CA mortgage broker who is licensed) to ask about legal, regulatory and compliance issues regarding residential lending in California, you shouldn't be contemplating doing it.

., or most other places, but there are differences in the financial, regulatory and taxation environments in which real estate is bought, sold and operated.Are your children old enough that you have an inkling of where they are likely to attend post-secondary eduction (i.e.