And in condos, you can't differentiate so much with the other units in terms of amenities you offer.3) Regulations: first zoning need to allow STR, then the second step (if condo), is the HOA.

I can understand your concerns regarding lack of regulation. 

I was under the impression that this regulation only applied to Cleveland homes.

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.

Affordable housing is not something that they have any say in, as it is regulated by the particular state.  

Albemarle county tends to have pretty strict regulations when it comes to zoning and building.

Alternatively, rent regulated tenants can also file a rent reduction complaint with DHCR.

Usually, older mobile homes get grandfathered into any new rules and regulations with the city and/or county.

In terms of the loan(s), I currently have a steady and competitive W2 job and very low DTI, however I’ll ensure to verify the rules and regulations for rental income when shopping lenders, so I don’t hit a roadblock when buying the next rental. 

Consider short-term rentals: If local regulations allow it, converting one or more units into short-term rentals via platforms like Airbnb can increase your revenue per unit.