The existing number of vacation rentals are so far over those caps that anyone who gets on the wait list today will likely wait 5-10 years before they're up for a permit.I do think this is the natural progression of what is still a relatively new industry.

Next, and again my current experience is in a different industry but one that's a highly dependent on Google reviews and ratings, I've found that there's always a break-even point where "paying someone off" doesn't provide enough of a return on the payoff. 

Like most service industries, there is nothing more important than the human touch as that is what people relate to and feel comfortable with.

What would be the "significant and legitimate public purpose" for the government getting involved in what seems to be a tiny percentage of transactions in an already heavily-regulated industry?

At BPCON2025, you'll learn from industry leaders, connect with like-minded investors, and discover pathways to financial freedom.

It offers a great opportunity to learn the ins and outs of the industry while building a network. 

@Mike LambertAs the hospitality industry is revitalizing from COVID, hotels are back to the increased occupancy rates.

Business is valuable and this has not been a great year for the property management industry.

This cushions potential value drops.Syndicator vetting: Only partner with syndicators who have a strong track record in different market conditions.Market and asset class knowledge: Understand market cycles and the specific real estate types (multifamily, industrial, etc.) you're investing in.Avoid chasing trends: Just because a market or asset is “hot” doesn’t mean it’s solid.You’re right that this approach doesn’t cap your upside, quality diversification can still generate huge returns while managing risk.Best regards,Drago

I grew up in the real estate industry watching my father raise money with a PPM for large multifamily value add projects and a developments.