. - Expertise in local laws and rules: Investing in real estate is hyper localized not only for value and potential but in rules and regulations.

Any regulations or risks I should be aware of?

Your first priority should  be compliance with federal and state lending regulations. 

Hey everyone, I talked to a laywer the other day that told me under new federal regulations you still have to release the names of the stakeholders.

The HOA might encourage swift action, but the authority usually lies with the city.PS: Texas counties have more power over land use regulations than cities in some cases, which can influence how properties in rural areas are managed after a disaste

Actually, I was at the unfortunately named "Best Ever Conference" in Salt Lake 2 weeks ago that Joe Fairless (Ashcroft) helped start and all the talk from some very highly placed economists and analysts was that the regulated lenders and banks were the focus.

However, I do know septic inspections and repairs are more documented and regulated. 

Any regulations or risks I should be aware of?

@Daniel Windingstad someone else mentioned Florida, I'll just chime in and say Florida is probably not much better for cash flow unless you go C/C- properties, but regulations probably are better than your current situation.

Permittable bedroom count is going to dictate your max occupancy load per the myriad of local regulations.