As for your questions: 1) Yes, if the fees/taxes are high or there are other onerous rules that limit revenue and/or occupancy; 2) You either play the game in your chosen location or go elsewhere; 3) Anywhere with less regulations is "safer" from a regulation standpoint, but attracts more investors that dilute the market.

So I require skin in the game (average is 5% to 15%) to offset this.

Total game changer.Looking forward to reading your wins, hacks, and surprises.

For many investors, the breakthrough comes from something simple: better underwriting, improved sourcing, stronger teams, or access to capital.What was your game changer when you started becoming consistent?

I would prefer a game room versus only a hot tub.  

We love the game and we like seeing young investors succeed thats it.

Combining banking with accounting was a game changer, and cleans up the part that so many property managers do as an afterthought.

Be sure to get one with “black flash” so it’s not visible at night.Here’s where I’ve ordered mine:https://www.nativeoutdoors.com/cameras/game-cameras/mms-game-cameras

I’m officially in the game!...

It's best to start with long term rentals so you can get some skin in the game.