Quote from @Donald Hatter: Pros:- Builders have many homes to sell at one time so it is easier to negotiate a better deal than with a home owner in the same neighborhood who is trying to sell their primary residence - Buyers bust out of deals all the time and builders don't like holding completed homes- Lower maintenance which leads to easier property management expenses.  

Ramsha - most of the regulation for a STR is controlled by the neighborhood HOA.

In February of 2022 we purchased a newly renovated 3 unit building in the South Austin neighborhood of Chicago.

Maybe your situation is different and if you don’t feel comfortable in the neighborhood then this may be a moot point anyway.As for FHA, my understanding is that you must intend to live in the house for a year  it sounds like you did intend to, but due to unexpected circumstances- lead exposure and unexpected unsafe neighborhood- you have to move.

That fits my needs better than YNAB appeared to and is very close to Mint. 

Quote from @Elizabeth Rose: @Josh Bowser this tip of doing a quick search on county GIS or software to see if homes in a neighborhood are owned in personal names or LLCs is gold, thank you!

They look rough on the exterior and most of them are located in the class C neighborhood.

How did you decide which neighborhood/street/zip code to start with?

There's so much content and so many individuals who push inexperienced investors to take action before they are financially ready while downplaying the risks, particularly those associated with  properties in lower tier neighborhoods.

.: Quote from @Molly Hane: I’ve found a “deal” but I’m having trouble understanding if this is a good fit for me.