I'm new to the community and I am currently trying to digest as much information as possible and to contribute where I can.  

I can't vouch for markets other than Cleveland, but here things can change very drastically on a street by street basis and just looking at census tract statistics won't give you enough information to understand that. 

I bought a typical, stucco box, tract house here in California back in 2009.

Other than the pending legislation changes, one other thing to consider is that the city currently limits the number of STRs to 3% of properties in any particular census tract.

Hell, there is this burgeoning website, census.gov, which provides essentially any element of demographic data one could ever imagine down to census tract block groups (which, in cities, is a very small, concentrated area). 

The numbers are from the Federal Housing Finance Agency, which uses different data than Core Logic:You can look at the article (pasted below) but bottom line 7 of the top 9 were all metro areas in the south half of the state of Florida.Not sure exactly how I should digest this data so I would love to hear your opinions.

We opted to digest all we heard and learned before shelling out the money.I am in no way looking for something for free and completely see the value of investing in tools and strategies of people who know what they are doing but how do you know they are legit? 

I just wanted to put your approach, description etc, into (possible) perspective for those out there who might need a different way of outbound communication as to not possibly get them into trouble when digesting the inbound communication coming from your end. :-) There's no "one fits all".

my biggest thing is calculating my return....So compare how much you are putting in to acquire vs. how much you will earn NET by end of year.Be as accurate as possible in accounting for your expenses like holding costs (PITI, condo/HOA fees, maintenance, vacancy)In terms of paperwork, it's fairly easy to obtain if you google it or can pay a RE agent/atty minimal fee.If this sounds overhelming, i wouldn't pull any triggers.....you need to keep researching until it sounds digestible and then manageable.

It's all here, the pros and cons (and no, no one can answer this in a final manner for you - you will have to decide) for you to digest, debate internally and ultimately make an informed decision.