There's plenty of free, public data that you don't need to pay for and isn't regulated by the association of Realtors.

It’s a care-driven business first, a real estate play second, and if those priorities ever flip, it falls apart fast.I’ve spent a lot of time in high-regulation environments (especially here in Memphis with Section 8), and the operators who win are always the ones who respect the compliance side as much as the cash flow side.

A contract for deed THEORETICALLY works differently, in that since the warranty deed is NOT recorded there’s no need for formal foreclosure - but in the last 20 years various states have passed laws and or regulations providing contract buyers with greater protections that may necessitate foreclosure or “foreclosure like” proceeding in order to gain “ownership”.  

You should have some good economic reason for converting it.There is no court case or regulations specifically prohibiting this, nor telling taxpayers they can do this, from my experience, but again, you asking this question and it feeling a little "too good to be true" is usually a sign the IRS may scrutinize something like this, especially if done repeatedly. 

Every coastal town has a different set of rules and regulations regarding short-term rentals, so be sure to understand what the regulations are before you buy a place or you may end up being stuck with a property you can't use the way that you intend. 

Quote from @Grant Shipman: Hey BiggerPockets Community,If you’re raising capital for real estate syndications, you need to be aware of SEC regulations—because one wrong move could put you in serious legal trouble.Many new syndicators think they can just start pooling money from investors without following the proper rules.

The key is really knowing your sub-markets and staying up to date on local regulations.

Hard Money Lenders are non regulated lending institutions. 

Also, DSCR loans aren't regulated the same way so the rates and terms can change last minute- even right before closing (versus in conventional loans that's not allowed).

Since then, I’ve learned that California has some stricter regulations, especially around 30+ day rentals.