OP, keep in mind not having access to heating and sharing same water heater and etc will require an easygoing tenant in the nextgen.

I wouldn't be surprised if Boston required this type of "remote eco-mitigation." best regards,Chris

Except that you will be required to get a loan for $200k or put another $200k from your pocket in to the deal.

Reason is a Heloc generally carries a higher rate on a shorter term and "Can Never" be used as an "Asset, or for PITI reserves" which are both required when you buy an investment property. 

Quote from @Jordan Kaylor: What is a “seasoning requirement”?  

I suspect AHP has most of its investors capital deployed into these type of assets and now it's jumping through major hoops to meet their capital requirements.

Do have an idea of your preferred acquisition price and how much rehab might be required? 

What % is typically required these days? 

3️⃣ Local Regulations: Before you invest in a short-term rental, it's essential to understand the local rules and licensing requirements.

Also, note that it is hard to accurately judge an area from afar based on exterior physical characteristics.