. ****** The exception to this is if your STR is located in a municipality that has implemented operational restrictions but in most cases I observe, the right to operate extinguishes when the property is sold.

Due to the fact that the building associated implemented new laws in construction.

The only draw back is that if the city raises any of those rates in the middle of your lease cycle you will have to wait for the leases to expire to raise the amount to recoup the higher fees.Finally, you could implement a RUBS program that would be separate from the lease and could recoup almost all of your utility costs.

To further note, realize that implementing the house hack method will not generate significant cash flow (most likely negative cash flow).

City of San Diego had considered implementing SB10 but the residents protested and the support deminished. 

Flipping is definitely doable in El Paso, it was named the most affordable city in the nation, so it's getting a lot of exposure from out of state investors (Specially CA) FYI.The most important part of a flip is buying it right, location does matter - I have heard horror stories of flippers that come from other cities and want to implement the same strategies they did back home and they end up sitting on their property because they either bought too expensive, or in the wrong neighborhood, or invested too heavily in finishes that the comps of the neighborhood simply didn't have.Study.I suggest you read the book Flip by Clay D. if you are set with that strategy.Also, be aware of costs, I know a lot of wholesalers that are clueless with the costs and just throw a random rehab number to the investor with the hopes they will sell the property.Find a great realtor that is also an investor, I became one myself since I struggle to get the right guidance - there aren't many out there that are familiar with the construction and investing side if the industry.Don't think you will make a ton of money on your first flip, be happy if you are able to walk away without a loss, I can guaranteed tho that you will LEARN a ton, and that is what you NEED right now.Regarding the so called "Recession" I believe it's more a consumer's belief through influence of media showcasing the tariffs war etc, what we really now is that for it to hit us - RE investors - there has to be an alarming increase of foreclosures which guess what? 

As with any innovative approach, success depends on effective implementation, clear communication, and ongoing evaluation of outcomes.

Unfortunately, Key West appears to have pretty stringent rules on Short Term Rentals.

@Inshad Kaller I hope all went well with the closing and the property but most insurance doesn't get implemented until 30 days called the seasoning period, but that is if you own the property already.

Landlords must understand legal obligations and prevent injuries by implementing maintenance procedures and safety instructions.