There would seem to be some risk to consider that even if it is not restricted now, that the county could step in at some point and redefine the rule, specifically ruling out "hosted" STVRs.My agent does a lot of business in Waikoloa -- both the village and the resort area. 

@Jeffrey Kay First off, make sure that you will be able to short-term rental - many municipalities and stratas (HOAs) have been restricting them.

Since the ‘08 crash, banks have tightened up.

In actual practice, are there any restrictions on that?

I don't like that type of restriction in the face of upward moving rates. 

Seattle isn't cheap either, but Washington offers much more favorable taxes (0 state personal income tax) and is definitely less restrictive compared to California.

Borrowers were able to do 0 down loans, get seconds, 80-10-10s, and other risky loans back then, but lending requirements have tightened up.

So I have two questions: Are there any restrictions or tax liabilities to essentially splitting a previous 1031 exchange to do another?

Agency (Freddie/Fannie) - If the park and the buyer qualify, this will be the best debt, but the qualifications are even more restrictive.

COVID overlays at mortgage lenders have been more restrictive.