Local Regulations & Market Conditions:In areas where vacation rentals are regulated or oversaturated, factors like legal compliance and market competition can have a bigger impact than ratings.

Consider zoning regulations, nearby development projects, and market trends to gauge its potential for value appreciation or rental income.

Each of these markets has its pros and cons, from rising property values to varying regulations on short-term rentals.As for financing, beyond traditional mortgages, you could explore DSCR loans (especially useful for rental properties), private lending, and even seller financing.

However, they told me that I have to rezone my property as commercial and that I have to comply with a bunch of different regulations like updated landscaping, parking, etc.

It is precisely because of mentoring programs that teach strategies and techniques to people who do not have any grasp of the three afore mentioned fundamentals that we have such a mess with “wholesaling” and “subject to” that governmental authorities are figuring ways to heavily regulate or outright ban these activities in the residential real estate field. 

In reading about RSO in LA, it seems to be defined around regulations for LTRs, not specifically MTRs.

I can understand your concerns regarding lack of regulation. 

There're different interpretations of "tangible property regulations" which is the law that controls repairs vs. capital improvements determination.

Many NY apartment buildings with 6+ units built before 1974 are rent stabilized.You can look up the building here to see if it is on the rent regulated building list.All the best to you on your search!

These issues have been exacerbated by new regulations following the tragic Surfside condo collapse.Legislative Changes:Recent legislation in Florida, such as Senate Bill 4D, has introduced stringent requirements for condominium associations.