If your unlucky enough to invest in these areas your “wait” for a rebound might be quite a long time - or forever.  2 - Governmental Regulation  - Rent control, rental use regulations, property taxes, zoning, etc.

Happy tenants are more likely to renew leases, reducing turnover costs and vacancies.Legal Compliance: Property managers ensure compliance with local, state, and federal laws, including regulations on rent control, fair housing, tenant rights, and eviction procedures.

I’ve done some research on the local regulations and the market, but would appreciate more insights before moving forward. - Is Big Bear Lake still a profitable Airbnb market in 2024?

Not easy to do, not in a heavily regulated environment. 

Would it be helpful to you as a landlord have have not only the day to day automated but also have guidelines and quick access to local regulations (where there is constant change) in your assets markets to help you stay compliant and avoid potential lawsuits/fines?  

@Todd Kozak  The Federal FinCen new regulation called the Corporate Transparency Act (CTA) requires ALL LLCs/Corps to register by December 31, 2024. 

The amount of STRs that will pull out in non-regulated areas will flood the LTR and MTR markets I am presuming.

This lets you bypass the traditional bank financing with many rules and regulations.

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

Hope that’s kosher…You might also want to consider moving your notes to a servicer, thus you'll be in compliance with all applicable statutes and other crazy regulations spun up by Liz Warren.