its not like many folks do this for a lifetime.. this is why IRR is the true measure again in my mind. 

South Lake Tahoe recently passed a ballot measure essentially banning most short term rentals.https://www.rgj.com/story/money/business/2018/12/06/most-airbnb-vacation-home-rentals-banned-south-lake-tahoe/2233124002/ And Laguna Beach just did the same thing:https://www.latimes.com/socal/daily-pilot/news/tn-dpt-me-lb-council-20190505-story.html“We don’t want commercial ‘touristification’ in our residential neighborhood,” said resident Charlotte Masarik.Ok, well that’s not Arizona… but rumblings of similar complaints are happening in Flagstaff as well:https://azdailysun.com/news/local/airbnb-a-boon-for-owners-headache-for-neighbors/article_1abd0fbb-83ee-54d6-96c3-cd753349094f.htmlAnd Phoenix too:https://www.azcentral.com/story/news/local/phoenix/2018/11/30/airbnb-rental-home-closes-shop-after-neighbors-ban-vacation-rentals/2025777002/So let's take a look at what laws regulating short term rentals are already in place.Current Arizona LegislationIn 2017, a law was passed declaring that cities, towns and counties cannot place any restrictions on short-term rental properties just because the property is not classified as a hotel. https://azdailysun.com/news/local/despite-local-objections-new-year-s-laws-include-airbnb-expansion/article_52d485d5-79cd-567f-943c-bff142e9493c.htmlThis law specifically targeted any municipalities that were trying to restrict Airbnb and other online lodging marketplaces from operating in the area.

I’ve run into too many issues with the big box stores and the way they manage measures, installations, and handling (or not handling) issues that arise.

I hired a local lawyer to draft a lease, I have use preventative measures for repairs, and I have an agent for showing and turnover. 

Some states you probably have to spell it why exactly they weren’t picked then you probably need to send them a dozen roses and an Applebee’s gift card for good measure

I have got some quotes for both and they seem a bit high when I measure it up to what I pay in New york. 

This allows you to get contractor bids, take measurements, game plan, have orders ready to be placed for larger supplies (windows, cabinets, HVAC, etc.)

Banks definitely offer the best rates, but the downside is spelled out exactly in your experience...deals fall through due to stringent and inflexible underwriting

I have slightly less stringent criteria for these, because I'm not interested in purchasing a hold property up-front that requires rehab.

In construction there's a saying "MEASURE TWICE, CUT ONCE"