I would diversify, and not because I don't have expertise in an area, but because I want to maximize my profits and mitigate my losses.

Rentals are all about mitigating risk and this is one less thing to have to think about.  

They target motivated sellers who may have had a death in the family, a job out of state where they need to move quickly, health issues, or any other mitigating circumstances where they are highly motivated to sell.

You can still take a relatively low LTV loan which mitigates the issue of today's rates and then you get the best of both worlds. 

Look at the new laws in pieces and then determine how you can mitigate your risk for each one.

I'm thinking it probably has to be a higher return to mitigate the risk as there is no guarantee against cell company mergers or the cell company moving to another location.

Even that can be mitigated if you know how to evaluate an area.

It's those maniacs that buy homes cash via quit claim deed off of craigslist that really get screwed.Make sure your property manager is a licensed real estate brokerage.Understand you can not eliminate all risk, only mitigate it.

You get a huge bargain on rent, which is usually the goal in a house hack, he gets a little more of the cash than if the room was empty and he had the added security of a partner in the house mitigating risk.But don't argue about who is RIGHT

Therefore, while I would love the extra time to mitigate risk but not at the cost of the whole exchange potentially failing due to an audit.