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. 

We are flexible with tenant payments but strict with our policies.

Rent increases are strictly regulated.

Understand the tax implications and advantages of each one.  2) Location & Laws. 

@Greg MorrisSome law in CA sounds ridiculous?!?!?

One didn't make your list.1) I see people all the time raising money for real estate deals but they call it a partnership either because they are ignorant of the law or they are trying to avoid paying for all the legal work. 

Hey everyone — hoping to connect with anyone who’s had experience navigating HOA restrictions around leasing or rental caps.I’m working through a situation where the building has a strict rental-occupancy limit (25%) and requires going through a formal waitlist and city permitting process before any lease activity is allowed.

MTRs are a sweet spot between long-term and short-term — but some hosts forget there are still rules.
Check your city’s definition of “short-term.” Some areas define it as anything under 30 days; others under 90.Midt...

If your market has steady demand and books well in advance, strict is great for protecting your income.

I'm starting to look in STRs and mid-term rentals for Bay Area rentals but have to navigate the local laws of two different cities.