There's a lot more compliance, regulations, and other protections that many brokers do not feel comfortable hiring just anyone. 

It's worth mentioning the STR regulations are relatively new, and I think some properties currently operating are basically grand-fathered with the old permit, and I don't know if being a new owner one'd be able to get a new permit if it's not in the designated location.

Then a hiring increase for local regulation officials or private sector to assess housing quality & approve it.

Depending on local regulations, you can mix up STR/MTR/LTR. 2) Get systems in place in those exact cities; 2 PMs preferably via NARPM, 2 high quality inspectors, and rotating book of handyman, 1 lawyer, and a credit union contact for leverage along with investor friendly nationwide lenders.

It is a federal regulation but some states reach out and screw you.

Perhaps it is hard for people from the states to understand - but the rule of law, and clarity in regulations etc really makes it so much more attractive than other places where you never know what new policies might come into effect forcing you to take massive loses etc.

I want to ensure I’m doing this the right way while keeping my finances organized and compliant with any regulations.

Additionally, make sure you’re familiar with local property laws and any regulations that could impact your investment.I agree with @Jason Wray that you can easily find a cash flowing deal under 200k. 

Now, if they are following SEC regulations, these should be spelled out in the PPM, but they might not all be in some glowing, highlighter-green table.  

Keep in mind local zoning laws and market conditions in Portland versus Salem—Portland might offer higher rents but stricter regulations, while Salem could provide better cash flow opportunities.Your design approach has proven successful, so continue focusing on appealing upgrades like kitchens and bathrooms, but prioritize cost-effective and durable materials for rentals.