My first impression from what you've said is that this hot mess has some fairly thin margins for all the potential for disaster.

The market here is getting pretty hot right now.  

A fancy way to say, f*cking off from the rat race, if you ask me :)As for the 4hour work week book, I personally found it weaksauce and full of hot air.

Turn the fan on the furnace on, just to get air moving (change filter frequently).

Then one day they realize that the roof needs to be replaced ($6000), the HVAC needs to be replaced ($5000), the hot water heater needs to be replaced ($800), the siding needs repairs ($1000), etc.  

The Brooklyn market is too hot for me right now, hence me deciding to focus on the Bronx and Queens - where I think there are more deals to be done.)So anything from 3 units and up.

I've been trying to find one myself in Atlanta, they are very hard to find it seems, especially in a hot market, as their is no need for sellers to finance because there are always hungry investors willing to pay all cash.

I live in wisconsin and they have passed or discussed similiar measures for shortermrentals around the Green Bay Packer stadium as well as in Oshkosh for the air venture air show.

The real estate market in New Orleans is very hot right now, particularly in up and coming neighborhoods such as the Bywater neighborhood.

(though it could be depending on type of construction, heating/air conditioning, etc.)