The requirements will vary by city, but I would think SF would be the most restrictive.  

With the pandemic going on I know there are restrictions as far as evicting tenants, however since we'll be doing a month to month lease, do you foresee any issues asking them to vacate due to not renewing their lease?  

And then the cities that aren't banning it, some have ended up putting restrictions on how much you can do it, etc.

The good is that it frees you from geographic restrictions, the bad is that there is no in person networking. 

@Kate Koeller  for late fees I always let them know they are late regardless of If I can impose a late fee.

I am aware of the VHR restrictions in SLT so our search is limited to the county and the Nevada side.

I didn’t have to deal with some of the restrictions that loan comes with, and no PMI!.

The Declaration further restricts certain “commercial vehicles.”

There aren't laws against it but the HOA may have restrictions in their by-laws.

Plus rules change and they may ban or restrict rentals and some condos are poorly run.