I’m not sure what the rules,regulations, restrictions are for renting out basements, so I’d appreciate some input from people who have done this before

Almost every property on my street is a 3+ unit property.Now, I understand that I cannot build a quadplex due to zoning restrictions.

Government now can restrict and cap your rent increases 3.

Hello, I'm currently in escrow on a property in Flamingo Heights / Yucca Valley.

-Are there legal restrictions on this in NC, such as the length of the option?

Quote from @John Underwood: First thing to do is check with the city or county to make sure the ADU would be permitted to be a STR.The municipality has an application process but initial indication is that it's not overly restrictive in the area I'm looking at. 

Some areas might have restrictions on renting portions of a home, especially basements.

No restrictions or caps on supply, and I don't expect the City to revisit this anytime soon as it was about a 3 year discussion that I think council is happy to put in the rear view mirror. 

There restrictions on everything!

Lot's of opportunities with owners selling who purchased at the height of the market end of 2021 and 2022.