if your credit score is not good for a mortgage, you can try owner financed deals. but i think  you can still get a fairly decent interest rate with 620 credit score in the current interest rate environment

Additionally, even if it is not explicitly discussed/mentioned in your lease, you may run into some trouble with depending upon the type of property and any HOA rules + regulations.

They are SEC regulated. 

With those higher prices, some of the Type 2 owners are going to see $$$ and take the risk despite the regulations. 

I do not have much experience in vacation rentals, but I get a sense they are riskier based on how regulated they are in some cities; short-term rent laws vary by region, just within California, where I'm at.

@George Davis sounds like they've got weird banking regulations possibly?

You will create mold and a high humidity environment throughout the home if not. 

Or would NJ landlord/tenant regulations entitle tenants to continue leasing? 

I don't think it's as much "old school" NC as it is "they've been schooled" with the Great Recession and project failures in these low/no growth environments.

They are not allowed to have more than that under Medicaid regulations.