It's important to stay informed about developments in the areas you're considering, as well as any potential changes in regulations or economic conditions.

Validate their Legitimacy:Ensure the company is properly licensed and regulated, particularly if you're working with private lenders.

If you're going to do it alone, make sure you your due diligence: estoppels, inspection, review, consult with a local attorney familiar with the local regulations, etc. and good luck.

Personally, after working with numerous property managers in Las Vegas, I only trust two to handle this task for my properties.Compliance Is ComplicatedProperty management involves navigating a maze of city, state, and federal regulations.

Remember your situation is unique so it's important to consult with a tax advisor or CPA to explore all available options and ensure compliance with tax regulations.

However, there is no specific holding period contained in the tax code or regulations and there is no "safe harbor." 

And the locals in Highlands have been fiercely debating STR's and regulations for the last few years, so I wouldn't be comfortable buying there.

As long as you listen to your insurance company's regulations as well as your local ordinances you should be fine. 

As long as no “healthcare” services are provided (like medication or personal care), it’s not regulated by the Department of Health.

Hopefully this helps....You need an attorney that specializes in SEC regulations to create your PPM.