Your time here will be well spent.I added the below links based on you interest as mentioned and for your review while waiting for local connection in New Paltz.http://www.biggerpockets.com/renewsblog/2013/01/04/how-to-rent-your-house/ (house rental guide)http://www.biggerpockets.com/renewsblog/2013/02/22/buying-rental-property/ (how to buy a rental property)Now that you have made the move, below are some links that will help with the navigation of the site. http://www.biggerpockets.com/startherehttp://www.biggerpockets.com/meethttps://www.biggerpockets.com/alertsHow to Use @Mentions on BiggerPocketshttps://www.biggerpockets.com/ruleshttps://www.biggerpockets.com/termshttps://www.biggerpockets.com/inviteshttps://www.biggerpockets.com/perkshttps://www.biggerpockets.com/forums/categorieshttps://www.biggerpockets.com/courses/a-beginners-introduction-to-real-estate-investing (video courses)https://www.biggerpockets.com/real-estate-investing (Ultimate beginner's guide to REI)Before your 1st purchase, please ensure you visit the below link for some tips.https://www.biggerpockets.com/renewsblog/2014/12/19/real-estate-investing-success-smart-tips/REI books suggested by BPershttps://www.biggerpockets.com/renewsblog/2015/11/13/7-real-estate-books-beginner-investors/ (7 absolute must read books for beginner REIs)http://www.biggerpockets.com/renewsblog/2013/04/14/best-real-estate-books/?

The website is easy to navigate and it calculates the numbers you need to see like net income, monthly payment, etc. 

Congrats on navigating your way here.

The long term impact includes the following:-Less compassionate landlords who are willing to be flexible with late payments, evictions, or delayed move outs-Less supply of rental property due to single family rentals being liquidated and sold to buyer/owner occupiers -More competition from bigger REIT's (real estate investment trusts) and real estate holding corporations who can weather limited returns-Less incentive for real estate developers to rehab and hold properties long term in the local area-Less flexibility to keep rents affordable without falling behind and keeping up with market rents to appraise at exit -Less business in the investment property sector due to lack of supply, including realtor commissions, title and escrow fees, handymen and contractors, property inspection fees, appraiser fees, mortgage lender commissions, and bank refinancing profits -More headaches for property management companies having to navigate complex and controversial client demands on their property -Less qualified tenants using the first-come, first-serve basis for applications Now BEFORE EVERYONE thinks these laws are just horrible to invest here, I want to conclude with some of the major PROs of these laws:-Less competition from entry-level investors, meaning more deals will be had by liquid and well financed investors looking to scale with the roadblocks in mind-Higher valuation of rental property over the long term due to supply and demand constraints -More stability in the quality of management and landlord professionalism -More 1031 exchanges from older investors looking to move assets around more frequently to dump low performing properties -More incentive for real estate developers to only build large unit multifamily that will not have regulations for 15 years (from certificate of occupancy)-More expectation from tenant that they will receive an increase each and every year (more implementation, means more frequency to experience)As always there are two sides of the argument, but I firmly say that I can still be profitable and make millions of dollars here in Oregon, but with a little more caution and strategy.

I truly believe that we can all learn from each other's experiences and that together, we can navigate the ever-evolving Austin real estate landscape more successfully.Please feel free to reply here or send me a private message if you'd like to connect.

Buy Then Build by Walker Deibel is a fantastic book to help you know what to expect and how to navigate/build a team. 

You should be careful with the STR strategy within the city itself but there are ways to navigate it.  

Medium-Term Rentals in NYC
Navigating the Perfect Path in the Rental Market Maze
Photo by Jose Alonso on Unsplash
Medium-term rentals may be the goldilocks solution for property owners — not too short, not too long...

The appraisal based on an ARV is tricky indeed but not impossible to navigate.

I have looked on the city website and it is not easy to navigate to get info of the house or property.  4.