Another caveat: there are a lot of STRs out there that are breaking HOA/local government/state/federal laws or strongly bending the rules, and I'm looking for people who did not do that or who mitigated risk there. 

Making your investors feel safer, syndications require a government-regulated private placement memorandum (PPM), which spells out how the investment is being set up and the returns and risks involved.On the negative side, real estate syndications are expensive and complicated with quite a learning curve.

Sellers of a $339,000 home learned they had to pay off $20,000 in energy upgrades because the buyer wanted to finance the sale with a government-backed loan.

The government has set it up so that if you use some good accounting strategies you can avoid payment of tax for your life. 

One additional idea is to add a provision stating something to the effect of"This Lease is governed by the statutory and case law of the State of Florida.

The key IRS provision that governs this is in Section 469, which outlines the passive activity loss limitations.

While I believe anyone can joing CU's (unless they choose to stay private) they could have special considerations, like government employees/servive members where collections are a walk in the park so to speak.

The landlord may be planning on making it their 2nd home or any of numerous possibilities that the government removes with any law that changes that.  

Hi @Troy Kehoe, I always point my clients to the city government development department when determining what pool protections they need to put in place.

This suggests some volatility in the market.Investment Considerations- Long-term Potential: The presence of a dedicated economic development partnership and active city government suggests efforts to promote growth, which could benefit real estate investors in the long run.- Property Management: With companies like Champion Investments managing a large portfolio of properties in the area, there seems to be a robust infrastructure for property management, which could be beneficial for out-of-town investors.- Market Knowledge: Local real estate companies like RE/MAX Select, with their 18 full-time agents, indicate a strong local real estate community that could provide valuable market insights.In conclusion, Shelby's real estate market shows potential for investment, particularly given its price growth and strategic location.