Both would be fine as long as they're able to lend in the state you're looking to invest in. 

The Purchase and Sale Agreement is the contract that you and the seller sign which allows you the option to purchase the property at the agreed upon price.

I had two real options, University of Oklahoma or Oklahoma State University.

The increasing barrier to entry results in fewer new STR's coming available for sale, but also fewer options for guests to rent. 

Conventional can be a good starting point for your first properties because of the lower rates, but for entities and if you are planning to scale, DSCRs are great option since they focus on the property’s rental income rather than your personal income.

Curious if there are software options for managing both types of rentals.

I was originally drawn to it because I wanted to have one place where all my tenants paid rent and where they had the option to set up auto payments. 

After 45 + years as a real estate investor, broker, lender, fund manager and syndicator, I’ve become aware that the “dream” of many investors and investor “hopefuls” is to be able to generate enough cash flow to live off their real estate holdings and accumulate enough wealth to make “work” optional.

Find the style that people are doing in the area then find equivalent options for materials at local supply houses.

Have you spoken to an immigration lawyer about your options?