I agree with Naples, high priced and too much regulations for STRs.

Airbnbs in regulated urban areas usually require a registration number.

If you got a property with multiple rooms or units, you could take advantage of government back loans like FHA.

Covid is impacting how governments are treating evictions, business operations, supply chains, etc.  

Every state has different laws, rules, and regulations regarding leases and other forms.

Government.

Unlike North America and Europe where short-term rentals are increasingly regulated and downright banned in the most attractive locations, there are hardly any regulations in Latin America and it's unlikely that'll change anytime soon.

However, you need to get educated, know what you're doing or know people who do.Finally, if we have learned anything from the Covid crisis, it's that the governments can restrict our civil liberties at a whim (and I'm not judging here).

Does this mean they ignore the regulation and take their chances?

Local regulations may restrict this so if you decide to go that route be sure to do your research.