Because the highest ROI is about 1000 miles away from me where I own a number of properties that make a ton of moneyI tend to buy in the Southern half of the US for 3 reasons:1) you get much higher year-round occupancy rates in the South & it’s simply tough to earn a good ROI in the North if your place sits vacant for a big chunk of the year2) Culturally, the Southern half of the US seems to be a lot more accepting of STRs regulation-wise.

Be sure to check local regulations but my experience has been true to this in ever location. 

Cap rate could also be deceiving as rental income fluctuates due to several factors: market conditions, regulations, management/owner knowledge/experience, and others...If you are looking for a healthy cash on cash return, you would need 200-250bps of spread between the bank financing and going in cap.

I'm no expert when it comes to zoning regulations, but my understanding is that "RS" zones only allows for 1 dwelling per lot.

There are many short term markets that are decades old where you don't have to worry about the regulations and volatility of metro markets. 

Don't get me wrong, was great city to invest in (I'm a huge fan of the economic diversity in the Metro), however, both Minneapolis and Saint Paul are starting to put in regulations on tenant screening that are concerning to me.

Title - regulated by the state and based on the purchase price3. 

I would recommend Gene D'Amico Pest Services.

Secured transactions, creditors' rights, bankruptcy, securities regulation, federal tax and trusts and estates should be helpful courses.I did a summer with V&E but can't otherwise speak to Texas.Good luck.          

Doing some RE consulting for a client involved in a value-added industrial investment in Miss.Utility company quoting 65% markup on materials (25% for E&S, 20% for Minor Mat, 20% for Material Handling).Have never seen such a high markup even in unregulated private industry and generally utilities are highly regulated.I am thinking even IRS may have some regulation on how much maximum mark up on materical can be.Please help with your knowledge.