Also 4th quarter of last year Packwood and county officially did discuss potentially regulating STR's by either limiting numbers or adding a tax to cover increases in local services that are needed. 

you might say something like, "I’ve been studying Austin and Denver for rental properties and have a $200,000 price limit—what are the pros and cons of both markets?"

What if they build just outside the city limits, so they are not paying city taxes?     

In my experience, most have limited product offerings.

The more rehabs you do the better understanding you will have of the market for contacting work and materials.Doing a rehab every so often prevents you from being sharp with your budget.For those with limited exposure, ask others in the industry and always run your numbers based on being overbudget and overtime. 

(Maybe I am biased) As far as taxes go, city/county taxes are low compared to states like Texas and if you go outside the city limits into local areas the taxes are even lower.

THEY ARE NOT LIMITED TO ONE PROPERTY.So, they can 1031 to 2 or more additional properties OR 1031 into a rental property plus a DST so that all the profits are used up in the exchange. 

Remember most of Pace's minions have limited understanding of this business so you have to take any endorsements with some level of skepticism. 100% true. 

Ask the builder or their legal representative for a copy of the CC&Rs (Covenants, Conditions, and Restrictions) or any supplemental documents specific to the development.Financing Considerations: If you’re financing the property, some loan types have limitations on renting out a home within the first year.

This will allow you to take on bigger deals with your cash on hand.LTC is a ratio with the potential to limit your loan amount.