Other regulation could come along that works differently, but it's not even on my radar.

One tip: focus on areas with year-round demand and check local regulations early—they can make or break a deal. 

Distributions from a regulation d fund like this should be treated as passive income and therefore not be exposed to self-employment tax.

One that may not be rebuild able under current regulations.

This story has the potential to usher in a boatload of regulation into, and scare a whole lot of money out of, the turn key industry. 

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.

Issues with multiple national carriers leaving the state completely due to state regulations, massive loss ratios, huge increases in replacement cost values/limits due to inflation, etc. 

STRs are an option too, but you’ll need to navigate stricter regulations in some areas.

Ensure that you check your state's regulations and requirements regarding security deposits.

Make sure you thoroughly know how the regulators view the way things are being done, before committing to a "creative financing" technique.