Just be sure you can handle the negative cash flow for now and have a strategy to improve it later, like refinancing or increasing rent.

I am a licensed REALTOR and handled the deal myself.

Any advise about how to handle this situation?  

Most major metros can handle MTR only and STR only--- it's a strategy discussion.

I mean, it's your property......At least that's how I always handled it....

I couple weeks ago I talked to an agent selling a VA foreclosure in Southern California and he said their last sale was handled by New American Financing but he didn't have a whole lot of info other than that.  

If you're still wanting to do it - lowest cost of entry I could think of getting yourself a list of a few thousand properties and then hammering through them for hours a day until you find someone interested. 

I would ensure you have enough saved in reserves to handle down months, furnishing and decorating the entire house, closing costs, etc.

Both deals have solid potential, but for a first property, the duplex might be a smoother entry point.

Here in PA anyone can write up a contract and submit it to a title company and they will handle everything.