Strict rent control policies mean that investors can't buy a dilapidated property, refurbish it, and drive rents up.

Renovated all apartments, converted M2M tenants to annual leases, instituted strict rental criteria, implemented online payment portal, invested $75,000 into leasehold improvements (HVAC, drainage, exterior paint, concrete.)

FHA loans are strictly for owner-occupied properties, so you'll need to qualify as an individual borrower.

Or is it strictly a "First Right of Refusal" form? 

Tenant laws are super strict here and there are some cities that have rent control. 

Our local regulations are strict, as are most mountain towns in Colorado.

I have lost $ 200,00 on the 3rd deal because they pulled the plug on that deal at the last minute without ever inform the investor to pivot to another deal. 1031 exchange rules are very strict so I had to pay the capital gains tax.

Hey Tom I have a lot of experience here in Pinellas County, currently managing about 65 units.I would recommend staying out of Tarpon as they are strict 30 night minimum rental, and the demand is not as high as Clearwater/St Pete which also have 30 night minimums. 

I just remember thinking that the Rochester inspectors seemed a little too strict, interpreting every rule as harshly as possible.

I graduated JMU in 1990 and we did many weekend road trips down to ECU to visit friends and vary our strict party routine…