Running property management services requires a license here in Georgia, or a relationship with a broker that essentially hires you under his wing as a contractor.To a large extent, Curt is right, if you don't follow a lot of finances and potentially regulation closely, you could see a lot of your profits and late night calls cutting into your lifestyle as the quantity grows.  

The biggest being borrowing from Canadian lenders - with no Canadian income, residency or credit history you may find yourself limited in the size of mortgage you can place (perhaps no more than 50% LTV).Your easiest approach may be to find a Canadian partner and work with them to acquire properties.Overall, the fundamentals of investing in real estate are the same, details will differ - particularly in areas of finance, regulation and taxation.  

What keeps it from taking off is that there's no good air service to the actual northern part of the state.If there were less regulation; and the federal government would allow limited development in some of those recreation areas, it would probably pull the entire state out of the hole, but... they won't.

It's the landlords job to review/interpret it.Here are a few of the sources that I checked on the matter:Massachusetts Office of Consumer Affairs & Business Regulation: http://www.mass.gov/ocabr/consumer/housing/tenant-and-landlord/landlord-rights.html(They actually suggest you ALWAYS run a credit check on any potential tenants.)Massachusetts Office of the Attorney General's Guide to Landlord/Tenant Rights:http://www.mass.gov/ago/docs/consumer/landlordtenant073007.pdfMassachusetts Legal Help (.org) publication on Tenant Screening:http://www.masslegalhelp.org/housing/finding-public-and-subsidized-housing/tenant-screening.pdfSo, if there is such a law, I'd also be interested in seeing it.

I know the government regulations state an "owner builder" can only buy, fix, and sell 2 homes in a 3 year period, only if they have lived in the home for 12 months prior...

In other areas such as finance, regulation, legal, and taxation, Canadian voices are essential input to anyone investing here.

Also I'm too new to know all the rules and regulations.

In my humble opinion, once it's been approved, it would take a revolution to overturn it :(I am one of the probably hundreds if not thousands of small investors that got punched in the stomach real hard because of this situation, and I know there are several others out there (still ignorant to the fact) who will, eventually, have many sleepless nights because of this.I was very new and ignorant to real estate rules, laws and regulations when I started.

You can do a general search by your specific county that has "county or city ordinances" in the search, and that should pop government offices that address tenant rules/regulations.   

Anyone know if there are any laws or regulations in NC concerning this business?