@Michael Plaks Lol, thanks for the clarification Michael I don't want anyone here on BP thinking I'm trying to bring back CPA slavery ;).I was only asking for a local to OH CPA, thinking that they would be better versed in any Oh specific rules and Regulations, but I suppose it makes sense to go nationwide since it's primarily Federal tax's that I'm concerned with.

Generally these kinds of ordinances aren't strictly enforced, but if they feel your unit is a nuisance because of noise, drug activity, etc then they might use that type of ordinance against you.

Hi Trevor, when you look into the STR markets, be sure to research the short-term rental regulations.

The good ones can setup a strategy for you long term so that you can put goals in place, ex. timeline for down payment, and fill you in on regulations, ex. stick to looking at 2 unit properties as 3-4 unit properties for FHA have strict guidelines that most LA County properties may not pass.A last piece of advice, real estate investing always has some risk involved.

I am strict on the $500/ month, however I can offer them a set interest + equity split, this could also help get better terms on the loan - I have not actually done this as most HML and PML have a set amount they would like to receive in interest so I havent been able to negotiate terms with the ones I have spoken to thus far. 

And here is the thing, a million+ wholesaling fee, come on, really, that's just begging to get sued, it is, and it's idiots like that poking the bear on why things will come to new heights of regulation.

The government is facilitating a low cost alternative to public offerings that would make most syndications not viable.Private offerings are the wild wild west of investing with no audits, filing requirements, little regulation, tons of inexperienced sponsors, and lots of complexity. 

Asbestos siding and lead based paint are both hot potatoes when it comes to regulations. 

Clayton seems to approach this from strictly a cash flow point of view but if you're looking for better appreciation potential or having a flexible exit strategy (i.e. selling to an owner occupant or an investor),than A class may be the better option for you.

I am also considering looking for something to use strictly as a rental to buy now, but I am worried about getting a second loan for our primary residence so soon after the first.