According the SEC's Regulation D, Rule 506, sophisticated investors are those who have experience and knowledge in financial and business matters that allow them to evaluate the risks and merits of a prospective investment.

In markets that have no Hedge funds or other large well capitalized investors maybe.. so that's one thought.. there will be a price point were big money just jumps in and takes the cream right off the top and will pay more money than the average investor just based simply on their cost of capital and their scale.We are also starting to see the foreclosure rescue companies fire up again.. although highly regulated and illegal in many states the way they do business.. they will cream a lot of inventory before it gets out to the investors as well. 

I think it’s a fabulous idea, but proceed with caution and have a backup plan if the borders remain closed or have complex quarantine regulations that would deter snowbirds from leaving home.

Are there any permits or regulations we should be aware of for rentals longer than 30 days in the SLT area?

From my experience, you should worry more for the management company & city regulations.  

If you choose to go this direction, make sure to find a company who specializes in parks and is familiar with all the state regulations.

They don't hold paint well over time because the internal moisture (the chemicals used in their treatment) wants to push out and will cause the paint to fail very quickly.Oil-based paint may not comply with regulations, considering how close you are to the water.

Regulators for example may tell a bank that they have to many investor mortgages. 

So for once instead of relying on the market to self regulate, Dodd Frank has ensured regulations to reduce the overall losses...Only thing that may come out of this would be that it opens up more inventory for distressed sales and more rental opportunities for investors.

I would check your by-laws community rules and regulations.