Yes you want to establish your credibility with a bank and they have very strict guidelines about what they will finance and what they won't.

I'm struggling to find ordinances surrounding the requirements and regulations with this strategy in Cleveland heights.

Quote from @Fred Bagirov: I am new to Cleveland and trying to understand the market, rules, regulations (and loopholes, if any) with STR properties. 

It seems like many towns are creating new regulations around STR.

If you get serious about a particular unit ask to see the associations bylaws/rules/and regulations.

Specifically, does the regulation still apply if I am the host and reside adjacent to the rental property?

If you’re looking for information on zoning, regulations and permits, I would start with one of them.  

Ignorance of lead paint presence doesn’t exempt you—you must have a compliance letter to avoid strict liability.If you rent to a couple or a single woman and she becomes pregnant, the law requires you to delead the unit.

Sorry again.As i said before, and I truly meant, start by checking into the regulations and laws for your market of activity. 

There's not any (to my knowledge) Jacksonville wide STR regulations.