Make sure you thoroughly read the CC&R's because many also have restrictions on rental (% of owners that can rent, length of term, approval prior to,no short term, etc.).

Your target, from what you wrote, would be cheaper renters looking for a value stay that is clean, but unspectacular.If you market is saturated, you will keep going lower and lower in the algorithm which will indirectly restrict booking.

Seems very restrictive and would deter a lot of guests. 

There's < 2 months of seasoning for the purchase, cash into the deal is ~$975k w/o rehab (minimal planned so far - turnkey), purchased the property for 35-40% below assessed value, 825+ FICO, and would optimally like to pull out $975K-$1.15M of equity.Main scenarios we've thought of to accomplish this are: 1) structure sale of property from SMLLC to self and secure 30-year new purchase financing on deal (unsure if legal and tax implications if above initial cost basis)2) delayed financing (LTV restrictions a concern)3) cash out refi (seasoning concerns)4) DSCR (seasoning and rate competitiveness concerns)5) one of the above plus a HELOC, personal loan, etc.?

I know there are some restrictions on short term rentals (1 month min.) in the area but I believe even doing 1 month rentals at a minimum, the financials of the deal still work.

So, Atlanta passed STR legislation in March 2022 that was very restricting.

You responding to my post solely soley to try overly hard to be negative on an otherwise educational post is just odd to me. 

But to not take into account your current lease and provide some level of credit for it, that seems odd.  

Are there any zoning restrictions in terms of what businesses can operate there? 

The drawback you have to fit "in the box"; 20% down +, excessive reserves requirement, specific restrictions on tradelines, assets guidelines, DTI under 43%, owner occupancy etc.. if you are open to ARMs you will have a bit more options..Also need to consider the type of property - if condo/condotel banks might not finance at all.. there are many factors to consider we do have some good outlets for jumbo, would be happy to review your scenario and give you a quote.