There are a lot of bait and switch type lenders in this space since it's unregulated. 

Hey Steven, There are many scammy hard money loan companies as this side of the industry is unregulated.

It is only prudent to follow any law that could remotely be related to your activity even if you are an unregulated lender and every time some private lender gets creative they increase thier chances of falling under some regulatory compliance issue.

In Raleigh, NC four rooms or less rented by the room are unregulated.

You probably can’t put locks on individual bedrooms because that would turn your building into a hotel (unregulated, unregistered).The polite description of your plan is “folly in the extreme.”

Both practices are largely unregulated. 

It's unlicensed and unregulated, and often times we're dealing with complete amateurs due to this.

You should see rents grow at much higher rate than unregulated markets.

Keep in mind that our industry is completely unregulated which means anyone can be a QI and of course there have been issues with people mishandling funds and giving wrong advice.

Remember, its not a conforming loan so its basically unregulated.