We are selling one property in a location that has permits and other restrictions it would take Sherlock Holmes to find and when you inadvertently hit one there are fines plus the permits and delays. 

There is a big distinction on the variety of restrictions you need to be aware of with ADUs in Chicago specifically.

Increased revenue and decreased parking demand allowed us to carry income-restricted units as well.We originally planned on spinning it out into a brand, but we never had the bandwidth to do so.Our largest hurdle has been education as most of our tenants are coming in to rent traditional units.Investors did not love it. 

Anyone that has their ear to the ground see any short rental restrictions in the works for this area?

There are no laws restricting mark-to-market rents. 

Deed restrictions tied to a mortgage can be tricky to remove, but it’s not impossible.

Of course, with all things, the answers to all these matters will depend on the circumstances.California tends to have more laws on the books and requirements and restrictions that it can be a good idea to form a CA LLC for out of state property so that you as a CA resident are covered, and to try to have your contracts fall under the purview of CA courts.

There are no restrictions preventing out-of-state investors from purchasing rental properties in Texas—these investors enjoy the same opportunities as Texas residents.Additionally, the financing restrictions you mentioned don’t align with reality.

Or if there are any restrictions in the area for AirBNBs?

I was curious, so I looked at 20 years of Zillow data.Growing up in Los Angeles, I always believed a saying that investors here seem to repeat: blue states appreciate more than red thanks to things like zoning restrictions and certain democratic policies (which is an entirely different topic I won't be delving on here).For anyone that didn't know, here is a map of each state's electoral voting history (for the previous 5 elections):Here is a heat map of 10-year price growth by state:At first glance, it appears the majority of states with the most growth were the "pandemic boom states" like Idaho, Nevada, Tennessee, Georgia, Utah, and Florida.