I’m just wondering if there’s a danger or conflict with that.

Here's the real issue:  "Wood rot from fungi is dangerous because of how quickly it can consume the bones of a building once it has come into contact with them, destroying the strength of lumber and in turn causing cracks, leaks, and overall structural damage." 

An unlicensed investor has less incentive to self educate and generally fewer known resources to keep informed.

The listing vs. sale price rose from 91% to 95% as there was greater competition for fewer listings.

Keep in mind that cap rates do not apply to residential properties with 4 or fewer units.

I probably know just enough contract law to be dangerous, but I'm pretty familiar with real estate contracts (and have a few textbooks I can check as reference :), so I'll try to answer these...

Within the City of Las Vegas, short-term rentals are only allowed in owner-occupied homes that have three or fewer bedrooms and are at least 660 feet away from another short-term rental.

Do not invest in any city on Neighborhood Scouts’ list of the 100 most dangerous US cities.Low operating cost - High operating costs can turn what appears to be a profitable property into a money pit.

You would have needed to rent out the property for awhile (I believe 6 months-1yr.) and use it less than 14 days/yr. before selling it, and would also need to rent the new property out during the first two 12-month periods after the exchange, for more than 14 days per year, and use it yourself for fewer than 14 days per year/ no more than 10% of the nights rented for it to qualify. 

I did find a few, but they have restrictions which exclude me:PenFed: Will only do it if you own fewer than 3 properties.