Here's some basic copy & paste info that may help you make better investing decisions:----------------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

The husband told us to apply through Zillow, so we filled out the application on the platform.Before completing the application, we spoke to the wife over the phone to clarify some questions.

Your GC will know how to apply for the correct permits.Avoiding the issues in the future is a function of respecting the permitting process in the first place.  

I am not an expert on your market but I will give you some advice that should apply well tov most any market:1.

A 1031 exchange does not apply to primary residences.If you plan to use the proceeds to buy land for a business, consider whether the land qualifies as an Opportunity Zone investment.

This shall apply to single glazing and each pane in multiple glazing.Exception: Glazing that is more than 60 inches (1524 mm), measured horizontally and in a straight line, from the water’s edge of a bathtub, hot tub, spa, whirlpool or swimming pool or from the edge of a shower, sauna or steam room.

Question is: if I have one of these LLC (owned husband and wife, in a non-community property state), but it's a just a passive LLC - such that all it does is owns public securities (ie, our brokerage accounts are titled in the name of the LLC), does the same rule apply?

You cannot even apply for an STR permit on a single family home until after you've owned it for five years (and there is no guarantee you will get the permit).

I plan to apply for an FHA loan for my first investment if I were to find a deal, but if I can't something that works for buy and hold.

@Thomas FarrellRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?