Alternatively, there is a category of loans called non-QM.

Making some money along the way is a bonus for him. 

I plan to do cost seg study and get bonus depreciation (and will actively participate as per IRS rules) but need to confirm if this would still work if buy STR under LLC and I can still be eligible for that STR loophole?

Offer $50 or $75 for each showing, possibly with a bonus if you rent to the prospect.

They also need to have good exit strategy either wholesaling or flipping or rent it out for forever....they are very different than just buy in mls and flip it around strategy.I still remember there're three or four category of State tax deed regulation, is the OP knows about it ?

At present time you essentially have a m2m lease without the financial bonus.

The zoning department did admit that they were tracking the property as a 4 unit multi-family and had no intention on enforcing the current zoning as a lot of properties in Old Louisville fall into that category.

Unfortunately my residence does not fall into any of these categories.  

If we are able to do business someday that would be a great added bonus!

Bonus question: Is it best practice to offer at the asking price, even if you discover issues with the property?