Not going to help you with the related party issue.3.

I think some of these areas that are now heavily regulated are going to help the people that own str's in those areas because they can no longer boom with inventory creating gluts and thereby issues with rents.But here is the one that I will suggest. 

I have no issue with the rust belt cities.

The issue is our land value is high, so the structure value is low compared to the overall property cost. 

You will probably run into some issues and need to budget for that.You budgeted 5k for unforeseen expenses on a 4000sft home.

The most valuable lessons are issues that stop you in your tracks and you devote time and effort to solving them.  

We rarely have issues, but it seems like such a small investment in time and money to take one day to verify. 

There are several other issues (undisclosed maintenance markup fees, excessive charges to our account, significant reductions to agreed rent without communication, etc).

One of the biggest issues is probably borrower default—whether due to mismanagement, market downturns, or unforeseen circumstances, lenders can end up in long, costly recovery processes.

@Rachel Jane a lot of issues here to consider:1) Does the condo association even allow rentals?