No HOA, no deed restrictions.

However, I would advise caution and ensure your target market has a diverse business mix and supply is not over saturated and it is not located in an area that will be subject to harsh potential business restrictions on the municipal or state level currently or potentially in the future.

Though weekly claims have been below 800,000 for the past six weeks, they are still well above the pre-pandemic record as governments impose restrictions on activity.

Are you one law, one riot, one tax, one corporate HQ move,  one fire, one water restriction, one whatever; from your home being devalued and being under water. 

It’s just like you asked:  - You may be able to purchase a few different investment homes using this product, but they’ll definitely have location restrictions (usually they’ll need to be more than 100 miles apart, if this is even possible at all).- Depending on how you earn and how you are taxed a lot can change.  

You'll want to take into account all easements and build restrictions (in addition to zoning) that may be in play that would limit your ADU size or location. 

If she is m2m it could be now but I’d be careful with COVID restrictions.  

Are there any restrictions on large multifamily or setbacks that an out of state investor may not be familiar with in the area?

As mentioned, I've found a neighborhood in my market that'll support my house hack model (outside city limits, large lots, lower taxes, low restrictions). 

Would an exclusive agency agreement in any way restrict my ability to assign the property to another investor?