Better to buy a property and hope they don't change the laws to stop allowing STR's like they have in other areas.

My friend (who lives in the area now) and I are considering buying a very basic, 1 or 2br1bath condo that we hope to maximize rental income through 30+  days medium-term rentals- since I lived there and even my last visit earlier this year, I actually didn't realize how stringent the str regulations had become, and I still don't know how small-time landlords actually deal with the laws now.

I just received a labor law compliance notice that states that I need to post a poster up for employees. 

I managed to find a replacement (more expensive and not as nice) but my family had to spend a couple more hours in the car while I searched.I've seen a lot of posts over the years about sub-leasing without owner knowledge, renting in violation of zoning laws or HOA rules, etc.

I can recommend this attorney:Charles GrayThe Gray Law Firm, LLC1492-B Lake Murray Blvd.Columbia, SC 29212

But you said you had old wooden.Aside from the fact that it's the law, with 3 bedroom units chances are better than even that you're going to have kids in those units.

C-corps under the new law have some positives and negatives.

Depending on where you live, there may be by-laws restricting your "flipping" the property for profit within the first 2 years.Further, you may have an issue with your finance people if you took out a mortgage to make the purchase, such as pre-payment penalties if you haven't had the loan long enough. 

@Joey Biccum there are laws in some states that prevent price gouging during a natural disaster.

They are on their third lease term.Unfortunately, I used an old lease template I received from my in-laws which does not have a lead disclosure.