I don't want to violate any of the self-promotion rules on this thread by specifically linking or name-dropping, but it's from a data analytics platform I am working on specifically built for tracking construction, debt, and ownership activity in the Philadelphia region.I will be posting more detailed insights soon. 

Unsure about STR regulations in Charleston but I would advise you to search "arbitrage" on this forum and read up on the hundreds of pros and cons responses here before diving in to any market using the arbitrage model.

In order to put a property under contract I need to provide proof of funds I know that I can get that from a hard money lender but I don’t meet there criteria for a loan approval what should I do?

I paid for the subscription for a few months and drew my own custom Google maps areas and color coded them red/yellow/green based on a "grade" I felt came from a few metrics like crime/average household income/etcI also really like realtors dot com new maps, if you search for an address and click on the map and then go to the top left and choose the Value slider it will give you a nice color coded map of which areas of a neighborhood are higher valued.

Mom’s estate plan should probably address this separately from you. 

Best of luck 👍🏻 @Justin This is almost perfect advice but you do need 3.5% down with an FHA mortgage.

However, some investors don't mind this strategy if they prefer not to put a lot of liquid in up front and plan to refi out within a few years of closing (which seems to be a great option with the talks of the FED reducing interest rates this year).It really comes down to investing in a growing market, in a good neighborhood & building a great team to support you.

Welcome to the community and be ready for a huge amount of information at your finger tips.

That’s what this community is for.

As Michael mentioned you just need to respond to the IRS and state this is what you're doing.