My work schedule involves a lot of overtime that restricted me from attending the last two meetings.

At which point - as you mentioned - I may want to lean more towards a few wholesaling deals because my time won't be consumed or restricted (for lack of better words) by my full-time job.

It is a given that a penalty is imposed for my inconvieance and my additional costs of processing a late.  

Are there restrictions on what the loan money can be used for (room & board, books, tuition, etc)?  

Closing on home for long-term rental (targeting 6 to 12 month leases due to HOA restrictions).

A google search on "airbnb restrictions in SF" will quickly give you the information you need.

Probably the best approach would be to have the lease in the Company name and restrict the number of occupants at any given time.

Does anyone else know how the nearby towns work, with less restrictions on rehab permits and who you can use without passing a town licensed test?

I know a lot of condos near the beach have restrictions where you can only rent for more than 30 days.

Just keep in mind that you  will need to certify a 1-yr owner occupant period......you can re-fi out of FHA and eliminate the original restrictions...there are a lot of lenders offering a 5% conventional now...it will save you on the upfront Mortgage Insurance Premium (MIP) associated with a FHA loan...and no owner occupant requirement.