Combined with the changing regulations following the NAR settlement, many real estate agents are leaving the industry.

Based in Tampa, I have a lot of knowledge in Pinellas County rules and regulations as well as best practices/highest returns. 

I have to check on codes/laws/regulation, but I know CA is on a high of making thinks convenient to build those at the moment.

Since you’re managing a Section 8 tenant and taking over property management, focus on understanding local regulations, lease terms, and effective tenant communication.

Seek out local real estate groups to get an idea and network around local regulations.

Shane, buying "subject to" in Illinois is possible, but the state has stricter regulations around real estate transactions.

Quote from @Tony Lopez: You are in the most regulated corner of the world and have zero experience.

One of the other factors that kept me from pulling the trigger is that the city has never passed any real STR regulation.

Depending upon whether they are a bank or a trust company, custodians are heavily regulated by the IRS, DOL, possibly the FDIC, State Banking Commissioner, and maybe the Comptroller of the Currency.

Most counties have a cap and there are a lot more regulations around short term rentals.