Our rental agreement always has a max occupancy number in it which is actually mandated by our county regulations. 

My bank has been good to me, but is up against his regulations. 

Every state has different regulations, but usually you would need to register a address as your place of business like David mentioned. 

Perhaps as a short-term rental it could work if you have a good location and local regulation for that kind of thing.  

What's the reasoning behind this regulation, particularly during Covid? 

Usually when rules are changed, the parks request residents to sign a copy acknowledging they've read the rules and regulations. 

Banks, not a chance as banks have enough power to defend themselves and win, housing industry is a perfectly fragmented industry working under significant regulation and licensure, ripe for directive. 

According the SEC's Regulation D, Rule 506, sophisticated investors are those who have experience and knowledge in financial and business matters that allow them to evaluate the risks and merits of a prospective investment.

In markets that have no Hedge funds or other large well capitalized investors maybe.. so that's one thought.. there will be a price point were big money just jumps in and takes the cream right off the top and will pay more money than the average investor just based simply on their cost of capital and their scale.We are also starting to see the foreclosure rescue companies fire up again.. although highly regulated and illegal in many states the way they do business.. they will cream a lot of inventory before it gets out to the investors as well. 

I think it’s a fabulous idea, but proceed with caution and have a backup plan if the borders remain closed or have complex quarantine regulations that would deter snowbirds from leaving home.