Are you really planning to buy four houses with the stipulation that you have to live in each (or at least prove intent to) for a year and all for under $417k?  

An alternative if you wanted to keep it rent neutral would be to stipulate payments on the 1st and 15th of the month, which would give you an even 24 payments over the year. 

The stipulation here is that I stop the refinance on house 3 because house 4 is also an absolute POS and its not worth the 280k i now owe these kind folks.

The FHA stipulation for closing was that the seller had to remove the stove from the basement unit and cap off the gas. 

The one thing I can say is that if you go downtown to the city of Chicago, you can get to talk to someone which is quite helpful.I ended up getting my operator's license which actually wasn't as challenging as I thought it would be (I went downtown to get it), but didn't end up using it because our airbnb also got denied lol because it was in a "planned development area".I believe there were a lot of neighborhood complaints about airbnbs so that is why they are putting such strict stipulations around 1-4 unit builds.  

Tenant stipulates, represents, and warrants that Tenant has visually examined the Premises, and that it is, at the time of this Lease, in good order, repair, and in a safe, clean, and habitable condition.

Although AB-968 doesn’t specifically mention “licensed” contractors, the state of California already stipulates that “anyone who contracts to perform work that is valued at $500 or more in combined labor and materials costs must hold a current, valid license from CSLB” (source: CSLB).With AB-968, if work is performed by an (un)licensed contractor in an amount that exceeds $500, disclosing that entity’s or individual’s name and contact information becomes a legal requirement.

One of the stipulations cited skims over the issue, but there's a whole lot more to it than just saying "I want the loan in my LLC now and oh, yeah, I don't live there; Never have, never will." 

If that policy is canceled and the tenant doesn't provide evidence of insurance as stipulated in the contract, the contract has been breached.8. 

I am sure a management company would know local laws regarding STR and have those stipulated in the lease for protection against the arbitrage folks.