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

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

@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.

Any regulations or risks I should be aware of?

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

Crime is on the rise, property protections for landlords is nearly non-existent, and development is leaving the area for more favorable regulations. 

We used to do STR arbitrage, which can work great in SoCal, but regulations are the main barrier to that.