(The city is going through the legislative process of changing their tax laws to allow it soon.)

They were working on it for a long time before it became an actual bill, but it has been hastily amended a lot in a very short period of time (especially by legislative standards).From a policy standpoint, that can be a disaster. 

Read here: https://www.sftu.org/buyouts/If your tenants will sign up an attorney, just that action of talking to them without registering your buyout intent, may cost you an extra $30-$50k.You really do not want to end up in this group of people: https://www.nbcbayarea.com/investigations/I-Unit-S...BTW there's also some legislation under work that may make things even more complicated: https://48hills.org/2017/06/tenants-protest-farrel...And finally, watch out for a "disaster" like this one below.http://greensteinmcdonald.com/tenants-win-record-3...You can do an OMI only if you plan to use your apartment for yourself and for the foreseeable future.

Certainly things like Rates of Return including IRR, Economics, new and pending legislation such as the Tax Reform coming out, etc. all of which impacts your ability to be successful, cannot be learned and absorbed in a short period of time.I told each class that there is a difference between reading words and understanding the words you read.

That said, I have a couple frustrations with STR:-Local legislation has mandated a 10% monthly Transient Occupancy Tax on my GROSS.

IL just passed some new legislation, in fact, making it unsuitable as a business model unless you're willing to accept the issues surrounding being licensed.In my view, the biggest problem is that newbies - that is, uneducated would-be investors - see it as a way to get started without huge cash reserves and without a stable of private money people.

The reason the AP policy has been in effect is that the CA constitution provides for same as defined during initial legislative formation in 1853 and subsequent assemblies whereby policy was to keep lands productive and reduce fallow fields as well as a means to address abuses by homesteaders and early Californios (an old term) who did not utilize their lands and prevent neighboring rancheros from paying their taxes and putting their fields and range lands to active.It doesn't matter whether you agree or disagree with the policy; it's the law.

They discuss trends, regulation, legislation and what they are fighting for in 2015 for their respective associations.

Also if most voters were renters, they would push for renter-friendly legislation -- more rent control, more difficult evictions, more building permits, more ADA requirements, more non-discrimination rules. 

The ordinance referenced in the legislative file page linked above has not been submitted to the Clerk’s office as yet.