I'm now aware of any "lifetime" limits for FHA loans, but you're required to live in the property for at least 1 year after the loan starts.

Feel free to reach out if you’d like some additional resources or guidance on getting started.

Good luck getting started - let me know if I can be any help.

It’s a beautiful old house and would be a real gem if it was restored, but I don’t have the funds or a credit score good enough to get a loan that big (without an insane amount of interest tacked on).I’m hoping to turn someone on to it who loves restoring old properties, or start investing in a group that does and tell them about my house and invest as a team.

I would start with the bank that you have with checking and savings with

You’ll want to look at expenses that others have mentioned such as pass through entity tax, education, networking, any start up costs, etc.  

We weren't super happy with anything we were seeing on the market, so my husband and I had just started writing letters and looking off-market... until we saw this property.It'd been sitting on the market for months.

Starting my REI with such a large number wasn't my intent, but is the right thing financially for the long term. 

Congrats on starting your short-term rental journey!

I've actually started looking into that today, thank you.