@Ben CallahanRecommend 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?

I think the same applies here.

I am looking if there are some exclusions that apply in my case. 

For example, you could create a weighted structure where a percentage of profits is based on cash contributions, and another portion compensates for rehab or management efforts.Rent Payments and Tax-Free Profits:If you structure it as an owner-occupied property, the rent you pay could be shared proportionally, but tax-free gains on resale may only apply to your share, as you’d be the owner-occupant.

There are regulationsI could go on, but if you learn this much, and apply it appropriately, you will cut down your sorrows and risk, considerably.And yes, there is much more.

Continuous flooring concerns generally apply more to wood flooring, where matching is harder and more expensive.

I would remove the parts that don't pertain so you don't have to bother with checking boxes or lining through clauses that don't apply.

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.

Most hard money lenders will want to know about your track record - if you have no experience, partnering with someone who has a track record will likely be an easier path to approval (and likely higher leverage) than applying by yourself. 

Taxpayers within these zones are automatically granted this relief without needing to apply, offering some respite as they focus on rebuilding their lives.