I have been reading up a bit on how to creatively to this and I havetwo LLCs that operate in separate industries that I was hoping to leverageBelow is the plan I have1.

Therefore, I want to solicit creative ideas from the community on how small investors can help these families by providing affordable housing while growing our investment portfolios?

The Tampa Bay area is more than likely not your market with those buying criteria.You will have to put meaningful sweat equity and be creative in your leasing (MTR, rent by room etc) to produce a 3bd SFH  <200K purchase price that cash flows. 

Natalie Vane kudos for trying to invest creatively, but I think compromise is in order here.

Check in with @Joseph Chiofalo he's our go to investor lending parter for 20+ years for some creative options, as he does a lot of loans in the area..he might have an investor friendly RE broker referral as well.

Is there some room for creative interpretation?

That is an interesting and creative way to potentially make this work.  

I’ve heard of seller financing or partnering with investors for funds and using creative financing. 

We're seeing a lot of lenders come online with creative DSCR and no ratio solutions..there are even investment property HELOC's that use rental income to qualify.

By the time you get a couple properties under your belt, you'll be much smarter and in a better position to do more creative investing.Be careful with those cheap Ohio properties.