I would just start out by meeting with bankers, telling them your goals and mentioning some of the ideas you had(FHA vs conventional) and ask for their advice.

I have been trying to dig a little deeper into John's concerns and waiting to hear back from Airbnb on them.

Thanks so much for the mention, @Jonathan Greene!

So in 3 years if you bought a $150,000 house, you would likely have accumulated $12,000 -$20,000 in equity on your $30,000 initial investment - not to mention your tenant paying down your mortgage, plus some really awesome tax advantages (3.3% depreciation, etc.), plus hopefully some cash flow!  

I don't even mention interest.I did this recently and the guy picked the higher price with him carrying the mortgage for 5 years with no interest.Turns out a probate for one of his parents needed to be done so we are paying for this.

@Preston Dean Mentioned seeing the property.

And now I see it mentioned here and in newsletters as an up and coming place.I’m a huge fan of industrial neighborhoods and buildings and it has a cool little district.

We don’t know any PMCs to recommend in the area mentioned, but since selecting the wrong PMC is usually more harmful than selecting a bad tenant, you might want to read our series about “How to Screen a PMC Better than a Tenant”:https://www.biggerpockets.com/member-blogs/3094/91877-how-to-screen-a-pmc-better-than-a-tenant-part-1-services-and-processesWe recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

@Ivan Cortez, of course she is shocked that you mention eviction!

You mentioned "The only problem is that these are 6 month lends, I'm 1.5 months into this, so any work that I do now will not reap any kind of benefits until 6 months from now."