San Diego recently implemented an STR quota and one of our STRs was not selected in the lottery. 

Source: Insurance - ValuePenguinNo rent control: Some states and metro areas have implemented various kinds of rent control.

Scenario 2 - 9.5% Yield (Multiple notes) vs Stock at 6%:For this scenario we are going to use the same numbers as above the only difference we are going to be buying a new note with all of the money we get after ever year.Year 0 - 12k to buy the note Year 1 - We have 3024.24 (252.02 * 12) Year 1 - We buy a second note 3024.24 at 9.5% for 4 years -- 48 payments of $75.98.Year 2 - 3024.24 (1st note) + 911.76 (75.98 * 12 -- 2nd note)Year 2 - We buy a third note 3936 at 9.5% for 3 years -- 36 payments of $126.08.Year 3 - 3024.24 (1st note) + 911.76 ( 2nd note) + 1512.96 (126.08 * 12 -- 3rd note)Year 3 - We buy a fourth note 5,448.96 at 9.5% for 2 years -- 24 payments of $250.19.Year 4 - 3024.24 (1st note) + 911.76 ( 2nd note) + 1512.96 (3rd note) + 3002.28 (250.19 * 12 -- 4th note)Year 4 - We buy a fifth note and final 8,451,24 at 9.5% for 1 year -- 12 payments of $741.03.Year 5 - 3024.24 (1st note) + 911.76 ( 2nd note) + 1512.96 (3rd note) + 3002.28 (4th note) + 8,892.36 (741.03 * 12 -- 5th note).Total: $17,343.6 While this second scenario does outperform the 6% stock market return, it only give you a 7.64% annualized return while is better, if we implement scenario 2 in a self directed IRA where lets assume they charge you $150 every time you buy a new asset that would technically be $750 less of profit giving you a profit of $16,593.6 and a 6.7% annualized return.

I have seen that law and practical implementation are sometimes different.

Came back 4 years later to comment on another posters response and see this correspondence....Not sure if you ever got back into Probates, but I've been targeting for 10 months now....Primarily through direct mail...admittedly need to implement cold calling....but looking to systemize....love to connect if you went on to pursue probates again.

One of the principal industry concerns about the vast power granted to the Consumer Financial Protection Bureau was that these powers were too insulated from review….The ruling sends a crystal-clear message to federal agencies that their powers are not unlimited…We would not be at this point today if government agencies were more prudent and consistent about staying within their statutory authorities, grounding their rulemakings in empirical facts, and heeding appropriate procedural safeguards…Instead, too frequently, our regulators appear to be chasing headlines and short-term political wins.”National Association of Homebuilders - “Today’s Supreme Court ruling is an important step forward to advance meaningful regulatory reform because it means that federal agencies can no longer continuously change the law – and the intent of Congress – by implementing their own interpretation of statutes as long as the interpretation is viewed as being ‘reasonable.’

It really depends on what strategy your trying to implement as some areas are better for STR/MTR then long term and vice versa.

How long will it require to implement your business plan and rent / stabilize the property? 

You mentioned you are involved in things in other countries, why not share some of the things you see they are doing that are really good measures and could be implemented here in America?

We have been starting the process to get these houses rehabbed but the program is not implemented in every municipality yet and it takes time to go thru the courts.