I'm also a licensed mortgage broker with a lot of fix-and-flip programs, including some that require as little as 10% down on the purchase price, and provide 100% of the rehab funding.

But those folks were in way worse situations than you are..  

When work needs to be done, we require the tenant to provide access.

In rural Idaho, it is much the same way. the counties have minimum requirements and if you keep things on the up and up, it should be fine.Now, in a historical district, that is a different animal all together.

Title III of the ADA requires the removal of architectural barriers in existing facilities unless it can be shown that removing the barrier is "not readily achievable."

PM fees are high, exactly because so much work is required in managing STR.  

In addition to property sourcing, I require an agent who can negotiate effectively on my behalf, ensuring I secure the best possible deals.If you have experience in identifying distressed properties or working with real estate investors in Florida, I would love to connect.

These are all important considerations, and understanding the requirements can save a lot of headaches down the road.

I am considering getting into this space (looking at some courses), but worried that its too late, and that deep local market knowledge/understanding of buyers/connection with developers etc is required to make this work, which only incumbent/long term investors will have and would be hard for a new entrant starting from scratch to catch-up...is my hypothesis valid in your opinion ?

I agree.. just look at any large mid west or rust belt metro.. there is a ton of houses avaliable the question though will folks buy in certain neighborhoods where inventory is readily avaliable you can buy existing in many of these markets for far less than new builds.. so to me its really a neighborhood issue  a school issue a crime issue etc etc..