However, a larger home may consider another can or two in certain locations based on proximity to the kitchen or bathroom.

We don’t do overseas rental units but recently have traveled in those countries and my brother bought in Italy and my son is based in Sicily.  

The Cape also in my opinion is oversaturated with STR's so it's challenging to find a base number of how your property will perform. 

Quote from @Efrain Flores: Quote from @Tim Delaney: Based on rent of $1500-1600 and mortgage payment of $1700-1800 which doesn’t even include maintenance, management or capex it doesn’t seem to make any sense to keep it as a rental.

Based on my experience, you're right that many lenders allow the use of a second home mortgage for properties intended for personal use, provided you meet certain conditions.

Our LTR lease is nearly 18 pages long, not including the additional riders for mold, radon, lead based paint, etc. 

All my rentals are never less then 15 - 20% net based on cash purchase.  

They will tailor a program for you, based on their success with similar businesses.  

Not at all.... the rent is based on the market rate, so if the units are all different...size/location/lay out/age etc etc... they would have different markets rates.

Leverage will be based on whether the land is entitled and borrower track record but 50-60% is the norm, not 80%.