He's already lost $80,000 in potential income and they could easily tie him up for double that in a heavily regulated market like California.Successful landlords charge market rent or close to it.

In todays environment with higher interest rates there are less buyers in the market than a few years ago so waiting several years until rates drop to a more palatable range could lead to much higher returns.

., small houses or retail buildings) that can be torn down and redeveloped.Challenges in South Florida: Be mindful of market conditions and local regulations.

For Canadians seeking to tap into the market in the States, the way the LLC is arranged creates a challenging tax environment and basically leaves you limited return. 

Think lakefront properties in small towns, destinations with new attractions (casinos, amusement parks)...Another idea is investing in properties suitable for accessory dwelling units to create dual-income setups, especially in cities with relaxed ADU regulations.

I was wondering if there are any programs that any of you recommend to becoming a better real estate agent, especially with studying and learning the laws and regulations for the test.

It helps me think through the macro environment and set realistic goals.  

A $200,000 duplex might have identical rents in municipality “A” and municipality “B” but the property tax rates will vary, local regulations will dictate licensing requirements, labor rates will vary & the particular location will dictate insurance premiums since insurance carriers will weigh local replacement costs and whether the municipality is viewed as being a “plaintiff friendly” in arriving at insurance premiums.Better situated assets will attract better tenants.

1031 exchange sounds good in theory, but you need to do it in an area and at a time where there is inventory to choose from because once you identify the three properties, you have to close on one of them which is very difficult in a competitive environment.

Ideally, I’m looking for areas with a mix of:High occupancy rates for STRs (Airbnb or VRBO),Solid potential for appreciation over the long term,Investor-friendly regulations on short-term rentals.If anyone has experience with markets that fit these criteria or knows areas where STR is thriving with good investor laws, I’d love to hear your thoughts.