And with the city seemingly so anti-Airbnb, you still have to worry about the regulatory certainty.

If the landlord in exchange for paying TI's had the tenant sign an above market rate lease on a business that might not exist in a few years because of regulatory pressures from the government then it's a no for me usually.      

Its the regulatory body that oversees the appraisal industry.

They trigger a few more regulatory requirements.

@Laura George just in case you didn't see this on the other thread that was talking about this recently, I wanted to post this here as well:Each state has their own manufactured housing association that will be the best guide for resources and the current regulatory compliance items.

Areas like Kissimmee generate a lot in taxes from Short term rentals, so from a regulatory standpoint, this is less of a risk.

Does FL have a regulatory agency that oversees PMs? 

There are a variety of other reasons that different markets work well for investors.How is the regulatory environment?

If the myriad of Housing regulatory departments catches a borrower who claimed one thing and did another, the LENDER can be held liable for this. 

@Hunter PerryThe administration of an IRA and the provisioning of investments are separate for regulatory reasons.