@William Brock I can't say specifically how well these do, but we have lent on numerous VRBO type properties on Canyon Lake recently, and those borrowers seem to be doing well, so other investors are doing just what you're talking about, for what it's worth

The consequences of this neglect are stark and now coming to light: numerous properties have suffered from financial mismanagement, overlooked issues highlighted in due diligence files are impacting returns, and ballooning accounts receivable balances present an increasingly alarming forecast.

Quote from @Bruce Woodruff: It's not just about saving money IMHO...it's also about getting out from under their (Air and VRBO) control, regulations, cumbersome and guest friendly customer service et al... 

In the end, we’ll all benefit from personal experiences and how LA county interprets SB9 regulations so we can all better prepare and plan for our projects in the foreseeable future.

I believe it was made clear initially this was exempt, open to accredited investors only, etc:If you have searched the SEC Edgar database for an apartment LLC syndication and the syndicator, and you cannot find them listed, it could mean several things:Exemption from SEC Registration: Many real estate syndications, particularly those involving apartments, may be exempt from registration with the Securities and Exchange Commission (SEC) under Regulation D of the Securities Act of 1933.

However, it is important to consult with a legal professional or tax advisor to ensure that this arrangement is feasible and complies with all applicable laws and regulations.

Actually alot has changed. 1 the rules are very well regulated now vs 2009 -2012 when it was the wild cowboy days and banks were screwing families all over the place (which is why my wife and I started doing short sales - help families out).2.

Their content is much less dry, they do a better job of explaining the purpose behind rules and regulations, which I think is very important.   

Current status of residential Austin STR regulations:STRs must continue to be licensed, as the City of Austin will continue to enforce STR regulations[7].

In my company, we stopped doing SMS marketing this past November because of the new regulations but I can share my KPIs for last year so you have an example.