Is it possible that zoning changed or legislation changed and certain properties were grandfathered in (I'm completely unfamiliar with the zoning process)?

I was actually in my Legislative Update CE class this morning.

The facts, contractual agreements, and applicable legislation will all influence the conclusion.

Increasing interest rates, an expected mild recession, and new legislation impacting Los Angeles hotel values have dampened high-priced transaction activity, excluding the Standard.Here are several graphs illustrating the current commercial industrial market in Los Angeles county:Access the full Los Angeles county commercial hospitality market report here: https://d2saw6je89goi1.cloudfront.net/uploads/digital_asset/file/1170823/Los_Angeles_-_CA-Hospitality-Capital_Market-2023-10-02_a_compressed.pdf Data includes: Sale price per key distribution, cap rate distribution, cumulative sales volume by year, months to sale, recent significant sales, occupancy rates, ADR, RevPAR, construction deliveries/demolitions, economy, job growth. population growth, and Los Angeles county sub-market activity.

@TJ Watson did a great job breaking down some of the legislation in one of the strictest cities for STRs.

@Chris Allen There is also some new legislation that will allow conversion of a 529 to a Roth IRA for the childs benefit  apparently without penalty (except taxes) which will be helpful if your kids don't have kids and don't use the 529.

Scenario 1 Scenario 2 Base EAV 100,000 120,000 After-Rehab EAV 200,000 200,000 Incremental EAV 100,000 80,000 Property Tax Rate 5% 5% Property Tax Bill 10,000 10,000 Base Property Taxes 5,000 6,000 Incremental (TIF) Property Taxes 5,000 4,000 Second if you are not in a TIF district already as you state, it can be a huge legislative headache on the municipality's part to expand the boundary to include your property.

I remember reading something about the city rolling out new legislation to crack down on them.

Insurance - ValuePenguinNo rent control of any kind: Google searchPro-business legislative environment: Google searchWhat if your city does not meet these criteria?

However my concerns about it are that I'm in NYC, where we have inflated prices, mounting regulation and anti-landlord legislation that has become the trend in our market.