Also, from a legal perspective, you can check out this blog I wrote last year after the Wilmington appeals case was lost: "Short Term Rental Restrictions in North Carolina"The biggest news that's happened since then is that there is a bill that has been introduced to completely ban regulatory restrictions by local governments on STRs, however, it hasn't been added to the house vote yet, so it remains to be seen.. 

Again, there is a lot of legislation trying to limit or ban them completely.

Until recently I didn't know STR are banned within the city limits!

For example, the city of Burlington VT recently created laws that effectively ban short term rentals. 

Pete or another close by municipality has not flat out banned STR's (or made it nearly impossible) as that is the main purpose of our move!

Or better yet, the regulations change and they are now BANNED from STR in that property?     

Our first year goals were to break even and grow from there and the CAC data was showing 10% or higher with using a management company. 

You will definitely want to avoid any HOA but the issue of VR's has been well settled in Palm Springs with a vacation rental ban being voted down in 2018 by a 70/30 margin.

Most recently, Florida has banned purchases of property near military bases and other sensitive infrastructure by people from such countries as Iran, Russia, and China.

You hear stories of counties flip flopping on STR restrictions and banning STRs wholly or partially in many areas where markets are not yet established.