Some of the listings on AirBNB, VRBO or similar could be using the 30 night minimum to be considered a MTR allowing you to bypass some of the STR regulations.

Regulations Can Change QuicklyA city with no STR rules is not necessarily a good sign. it often means the discussions are happening quietly and pressure is building behind the scenes.

I'd love to utilize their expertise when assessing a property since they are local but I'm not sure what the general expectation is when I don't have a tangible property and I have not entered into contract to work with them yet.Some questions I have are: local regulations/permitting timeline, property's potential from their perspective, landscaping/amenities cost estimate (they also help facilitate this).

So far I've been quoted $2950-3400 to have a new railing built that is regulation height. 

I do not live in California but you better look at all state laws and regulations - I know California is very strict and has lots of regulations that can be costly if you are not aware of them. 

ADRs are also compressing it seems from the data.Which cities are best to deal with when it comes to STR rules and regulations?

One - from the Investment company act for the overall fund structure. 3(c)(5) is an exemption from the investment company act for real estate funds.Two - from the securities act for the investments within that fund structure. 506(b) and 506(c) are exemptions under the securities act, which allow different methods for marketing the funds/syndications.More detailed breakdown:🔹 3(c)(5) — The Real Estate Fund ExemptionThis is part of Regulation D under the Investment Company Act of 1940.

To me, that says that -- no evidence to the contrary -- he rented out in violation of the town ordinance and (my take) now wants to whine that he got caught.AirBnB and other short term rentals (STR) need to be regulated because they impose externalities on neighbors and deprive local governments of revenue and -- depending on circumstances -- pose unfair competition on local hostelries.

You should have some good economic reason for converting it.There is no court case or regulations specifically prohibiting this, nor telling taxpayers they can do this, from my experience, but again, you asking this question and it feeling a little "too good to be true" is usually a sign the IRS may scrutinize something like this, especially if done repeatedly. 

Every coastal town has a different set of rules and regulations regarding short-term rentals, so be sure to understand what the regulations are before you buy a place or you may end up being stuck with a property you can't use the way that you intend.