My concern about it is more related to the regulations.

@Riyan AhmedIt depends.Every jurisdiction has their own density and zoning regulations that will determine how many and what type of units can be in an area.The real question is, who wants to live in a 31 acre apartment complex.

With all the different HOAs, cities and what not, what’s the weirdest regulation and penalty you’ve had to comply with?

Not only that, but your PM does not have a tracking device on the AC technician (and it was not urgent, since the AC was working.

This might get tricky, because you need to know all the tax and other regulations.

Talk to the park managers and/or the owners to get a feel for the rules and regulations of the park as well as any lot rent you'll need to pay as a resident living there. 

Now, new construction Costs are going up with longer lead times on materials, more regulations during construction and more expensive labor.In SummaryMultifamily is not without headwinds like the National CDC Eviction Moratorium and others on a state and municipal level.

Also make sure what regulations are some places STR isn’t legal

All the regulations that Portland is putting in place are to restrict large bumps in rents and forcing people out of their homes. 

The devices to mitigate risk:1.