Focus on growth areas, understand local regulations, and use your rental history to build credibility with brokers and sellers.Good luck!

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.

WikipediaPro-business environment: Companies are reluctant to set up operations in cities with burdensome regulations that hinder profitable operations.

North of Austin, the county regulations say you don't have to do it IF you're only doing residential, certain lot sizes and limiting the impervious cover of each lot.

Consider not just the purchase price but also renovation costs, property management fees, and local rental rates.Consider the Property Management Aspect: If you’re not planning to manage the properties yourself, finding a reputable property management company is essential to ensure smooth operations.Stay Updated on Local Regulations: Familiarize yourself with rental laws and regulations in Detroit to avoid any potential issues down the line.Feel free to ask any questions as you continue your journey.

Are there extra steps or regulations I should know about?

@Josh LemonsThey have a regulation A offering which is open to accredited and non accredited investorsThe great thing is they have to submit their offering circular and have it qualified by SEC as well as submit financial information etc.All this means is the information is readily available and if you do not understand it then I recommend engaging an attorney who can interpret it.

I'm very surprised that the government has no regulation on this!

@Zach Edelman Lexington has a decent amount of STR regulations now with more on the way.

It's successful in high-cost markets like Southern California but faces challenges like high entry costs and local regulations.