I have purchased 3 STRs personally in the last 18 months and have closed on at least 25 for clients in the past 12 months.  

@Grant Shipman Great stuff, I'm a big fan of co-living/rent by room strategy, and I do it here locally in Denver metro, and it is the best strategy in today's market for any house hacker to live for free or make money while living there, but they have to sacrifice personal space.

Personally that is what I wanted, an active mentor. 

Personal Financial Statement Borrower’s Schedule of Real Estate – or- Resume illustrating experience2-3yrs Personal & Property Tax Returns – All schedulesPrevious Year and YTD Property Profit & Loss statement w/ detailed expensesRent Roll w/ detailed lease informationCopies of all Leases3mo.

Real-life reps, to me, means seeing properties in person, whatever your asset class. 

I can provide support of checking in on contractors, staging rental properties, walk potential leads to give you an idea of the property in person or what the area is like, meeting with agents, and drafting scope of work for projects. 

I've only had one person look at my home. 

I personally have success in doing flips with my partner here in Ohio.Lakewood and Edgewater are gentrifying neighborhoods in Cleveland.

Personally, if the property is in a bad area, this will give you headaches no matter what.

If you close with a conventional loan, it will need to be in your personal name.