Research local regulations thoroughly, as towns often require permits, owner occupancy, or restrict rental days.

I'm not sure which places are best to focus on with rules and regulations getting strict in some places. 

Ensure you understand local regulations regarding permits; it’s usually a good idea for your associates to form an LLC for liability protection, but individuals can do renovations as long as they pull the necessary permits.

Likely they will only allow you to live in the property once you refinance out of the debt due to rules and regulations, but you can always ask! 

Buying in those areas makes more sense for STRs as the municipalities rely on the revenue.Less chance of a lot of regulation.

As an appraiser I’ve appraised a handful of properties recently that are outside of city limits and operating successfully as STR’s that don’t have the same regulations as the city of St Pete.

Thanks for responding.The model's income right tokens may be subject to a number of SEC regulations. 

Part of this is regulations in my city, but after having done it this way, I wouldn't ever want to do it with a single family home.

However, since market shift / rate increase even these guys have slowed down quite a bit.Regarding regulation, I think eventually Indy will have to regulate against Short Term Rentals.

There is not the appreciation of the larger cities, acquisition costs are much lower, not difficult to find carpenters to do work, cash flow is over 1%, minimum regulations, and good tenants are available.