I informed him that his wife would have to apply and if everything checks out then we would need a background check on him before moving forward.

Additionally, they should be able to clarify how FHA guidelines apply in this specific scenario.

Everything I have learned from other wholesalers in different states doesn’t seem to apply the same here.

Grandfather rules rarely apply or work for STRs in most locations and apply to existing STRs there.

Cost of Tenant rollover (after the security deposit is applied)Avg.

They apply their house rules to the guests so you aren't stuck trying to evict one that relapsed.   

For the question about buying a property on the MLS I am not sure it applies. 

Need to apply to your specific situation.1.  

_____________________________________________________________________Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?

While the 1% rule would hopefully apply to an investment property, it certainly would not apply to my situation if I kept renting, as I would only be paying ~$1,600.Let me know if I am misunderstanding.