If tenants know that they can be readily evicted they are more likely to pay the rent than in locations where it can take months or years to evict.Regulations - Does the local government impose expensive regulations (like occupancy certificates before renting the property) or rent control?

I would manage the property directly without creating unnecessary paperwork. 

So, the new developer coming in and imposing egregious fees is a risk.

That being said, it's important to be cautious of known brand/marketers mostly; oftentimes, they come with a lot of unnecessary overhead and just white-label their services out to other CPAs.

And, while most of my time is still selling, I'm enjoying sponsoring and mentoring agents and getting paid for it, much like a Broker, but without the liability, responsibility, and unnecessary cost of office overhead. 

I've always included internet & satellite (for the last 8 yrs), simply because it makes the rental more attractive, it's easy to include, and unnecessary to have them pay for their own if I'm already paying for it.

An auditor may impose penalties for not having everything set up and reported perfectly, but I'm not seeing where you'd actually owe any additional taxes, particularly if you have your business reported on your personal return rather than via a separately reported entity.It's not the way I would recommend you set it up, but the total tax paid still comes out the same, so may work out in the long run. 

So the tradeoff becomes creating a sufficiently high rate of return, while also not exposing yourself to an unnecessary amount of risk. 

I'm an STR agent in my market and the biggest thing that sets me apart is knowing the regulations imposed by the city.I get so many calls from out of state people saying "the agent told me I could STR this property".....glad you called me about it because I just saved your investment.Knowing managers, areas, etc should be a given, but what sets me apart is knowing the STR regulations. 

BB&T have told me they will loan up to $750k but they are imposing $150/unit/mo repair reserves (even for new construction) which kills my NOI and causes the DSCR and LTV to fail because I can't get rents up enough to compensate for $16k/yr being held in repair reserves.I need someone who will either trust me enough to be an investor/partner with me who has serious cash lying around and wants to entrust it to me (it would held by the bank though) or trust me enough finance me completely.