We do have comparable entities in Mortgage Investment Corporations (MICs), but their operations are a little different (naturally as the legal and regulatory framework are different).

Even if those items turned out to be good, you will still have to find homes, move them in, set them up, do the necessary renovations, sell homes (and conform to all the regulatory requirements) and do all the renovations to the park, the roads, etc, before you have any income coming from the park. 

I might assume ~$5-10k of upfront capital improvements needed that would be primarily for upgrades to meet regulatory requirements for a daycare, plus about the same for cash reserves before the cash flows begin. 

Even if the property prices were more reasonable, there's no way I'd park my money in this kind of regulatory environment.P.S.- I don't want to give the impression that I'm dismissing Texas as an investment area. 

I tried very hard to influence my industry through my peers and regulatory institutions, but the truth is the whole thing is too disorganized and fragmented and political and greedy - I gave up and walked away.I don't know what else to say.

It's a challenge to make it work in the Las Vegas Valley given the regulatory landscape.

@AG Gupt Thanks so much for sharing your insights - and you're absolutely right with respect to the regulatory creep in licensing requirements for wholesale transactions.

The numbers demonstrate that “the local and state regulatory environment remains friendly to short-term rentals” and that local regulations have “helped the industry flourish,” he added.

The counties make a lot of money from short term rentals via tourism taxes, so compared to other markets there is less regulatory concern.

The government regulatory inspects your properties to make sure the property is being cared for by tenant and landlord.They also tend to stay for a long time (5 years plus) in my experienceRent raises are easy to get approved.