Fast forward to 2020, lending laws are heavily regulated with significantly stricter criteria.  

So many rules and regulations. 

Even just having the knowledge of local laws and regulations is a factor to consider when assembling your dream team to achieve your goals.   

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.