Considering other choices, including buying a single-family house for your permanent residence and looking into different areas for mid-term rentals, can be worthwhile given your family's needs and preferences.

@Steven Rago legally, whoever shows the property has to be a licensed agent.You can try to play games with that and have a handman allow "access", but it's a BIG risk.So that leaves agents & PMCs.You have two choices with agents:1) Pay per showing: since any agent can show a property, find the cheapest.2) Pay Listing Fee: typically 1 month of rent to put in MLS and place a lockbox so any/all agents can show.We do NOT recommend allowing agents to screen applicants - it's a conflict of interest!

Here's an idea: you might want to give your tenants the choice to pay using check/money order or Zelle.

Gas heat access is better than electric for example if you have a choice. 

Take a look at AirBNB and VRBO and check the competition to see what's what.Now, personally I don't see this as a great choice.

First, even an STR that isn't rental arbitrage may in some cases be reported on a Schedule C rather than a Schedule E depending on whether you provide "substantial service".In the case of rental arbitrage, I believe the best and arguably only acceptable choice is Schedule C. 

It is never a binary decision it is a choice especially for a beginner like yourself.  

So.... for buy and hold, 30YFRM/10YARM is always good choice.

Make appointments to talk about your financial status, investing objectives, and borrowing choices with possible lenders.

And no I am not set on Condos, I just didn't think I have too much of a choice!