Too many arcane rent control regulations to trip you up.

Just make sure you don't rely strictly on the numbers, because they don't always tell the whole story.

Rentals may be tricky considering the strict state laws. 

Backup Withholding: If a contractor fails to provide a TIN or gives you an incorrect TIN, you may be required to withhold a percentage of their payment for federal taxes (known as backup withholding) and remit it to the IRS.Following these steps will ensure you are in compliance with IRS regulations and avoid potential penalties.

And STR is much more involved with high turnover rates so you’ll not only need to post the listing but know how to keep it competitive so that you maximize bookings, of course, furnishing it, keeping supplies, restocked, cleaning, maintenance, And what about consideration to any local STR rules and regulations?  

Have you gone to the state, county and/or city websites to search for any STR rules or regulations?

That seems like a strict requirement of needing to keep the home for a year to use the owner builder direction, but I would confirm that before fully going forward as the GC. 

Any regulations, limitations, or potential that you have uncovered and would feel comfortable sharing about.

Entire industries have left the state due to inept state and local regulators. 

Understand the demand, seasonal trends, local regulations, and competition in the area.