Make sure to register with the city and follow the property regulations in regards to rentals. 

I've got a fully executed contract and the seller has many liens on the property and owes a ton to the government. 

My understanding is single family homes are not ruled by rent control regulation passed; only multiple units.

I tend to buy in the Southern half of the US for 2 reasons:1) you get much higher year-round occupancy rates in the South & it’s simply tough to earn a good ROI in the North if your place sits vacant for a big chunk of the year2) Culturally, the Southern half of the US seems to be a lot more accepting of STRs regulation-wise.

@Kevin Moyer You are spot on about the confusion with the new L&I regulations.

I am going for public service loan forgiveness so will only pay about 30 grand a year in student loans and it will be forgiven via lovely government tax dollars in 7 more years.

I manage almost 300 STR properties in CR and have some great contacts in-country with local knowledge on all things regulations and real estate.

May be a good play if the town regulations allow.

Being in CA always makes it feel I work for the government regardless of what job I have/business I start :)Would this change at all if it were done in a C-corp rather than having it flow into my personal taxes?

I suspect the gov't regulators that designed the current disclosure forms had an anti-FHA bias, the pre-2015 disclosures didn't cause as much confusion, there's no other typical/standard fee that they make look like it's charged 3 times...