The holder of the note gets locked up in court for a year or two since they are trying to pursue foreclosure proceedings on the prior owner but the owner has already transferred Title to the investor (the investor is accepting a clouded Title). 

@Carol KohnHi Carol,Thanks for reaching out.On Tuesday 2/28/17 Amazon Web Services - one of the largest online hosting providers of cloud applications and images, had a massive outage that affected thousands of sites, including TurboTenant.  

For our rentals we use a system called Tenant Cloud.

Don't let that cloud your judgement if you're looking at a pure investment property (which would be the case if you're looking at a long-term rental).

Bush league as Mindy Jensen calls it.You know HOW to put a cloud on title but not release it?

Supply is so far below demand that it's really easy to lease something unless you're out on cloud 9 with your prices.

I own a cloud-based bookkeeping firm that specializes in serving real estate investors.

I moved to cloud based solutions for this.

I like learning about the market in the cities compared to cloud town.

Of course, like the OP and a few other news items in the last week, there are always those that will skirt regulations and cast a dark cloud on all short-term rentals in the process.