If we buy in 25 we could rent it out to others first bc theya re required to stay in a dorm the first year.

They require tax returns, voter registration, car registration, driver license, and utility bills in the app to prove it's your primary.

This would allow me to save money compared to paying cash or the huge Down-payment DSCR loans require.

Just like any business, the reward is big but STR requires a lot of dedication and self sacrifice. 

But it's not strictly required.3.

First I would call the town and ask for the STR requirements.

Yes - you should be able to find some good DSCR Loan Options with 20% down easily - 15% down potentially available but the rates/requirements are pretty high on that front right now

If the title company requires that you become the Manager of the spoke LLC, you would have to amend the Operating Agreement, and, possibly, you will have to amend the Manager of the LLC with the Secretary of State (depending on the State).

If market rents are $2400 it fits most lender requirements for cash flow.

@Guillaume Vidallet no matter what state you create an LLC in, all other states will require you to register any LLC that does business in their state.So, you buy a rental in Michigan and place in an LLC, you'll have to register that LLC in Michigan.