Instead of using your personal income, employment history and DTI to qualify, a lender would look at the income or potential income of the property to make sure it cash flows after taxes and insurance are accounted for.

That's 3x the size of most Philly zip codes where real estate investors customarily buy investment properties.

@Eric HemplerIf you are not employed by the sponsor then yes you must be a licensed broker-dealer.

I would probably put a cap on the size of the tank. 

@Marc Shin we use both granite/quartz and laminate in rentals depending on the size and rental quality.

More often, I see people in Chicago using the MTR strategy to side step the STR regulations.I've considered buying a SFH with an in-law arrangement in Chicago to use as an STR because to me that seems like the best way to employ the strategy.

Being that your brother lives here he must show he has employment here in NY he will be good for the loan using FHA.

Running background checks on tenants, criminal, eviction, employment history are some way to determine if this is the right tenant for you. 

Plenty of renters and although home to a state school the town does not feel seasonal due to the other major employers.

This will show you how many furnished units are currently listed on FF, their size and monthly rate as well as the number of searches.