Some areas may have restrictions that could complicate things, particularly around who can provide alcohol and to whom.If wine isn't an option, you could consider alternatives that are still local and personal, like a handcrafted bottle of olive oil from a local farm or even a basket of locally sourced snacks.

Owner occupied conventional purchase to 97%, but depends on income and or 95% conventional, USDA 100% income and are restrictions, or VA, no money down, if a veteran?

Many investors claim Colorado is now more restrictive for landlords than California! 

Of course, with all things, the answers to all these matters will depend on the circumstances.California tends to have more laws on the books and requirements and restrictions that it can be a good idea to form a CA LLC for out of state property so that you as a CA resident are covered, and to try to have your contracts fall under the purview of CA courts.

Beside the labor costs there are the permitting and restrictions around Truckee.

The residents do not seem to be STR friendly, so I would expect more restrictions in the months and years to come. 

(Note: I’m aware of the new STR restrictions in the area).

Depending on your address you may fall into the city's jurisdiction which only allows short term rentals for 90days or less in a calendar year, or the unincorporated part of the county which does not have the restriction.

Otherwise you will be restricted to DCSR or hard money loans and have to bring 20-25% down. 

Are there any restrictions, etc.Looking for some general feedback on the area!