We also have a strict policy that anyone 18 or older living on the premises must be properly screened and approved. 

LTRs are not attractive with a STR unless there's a strict level of isolation.

I realize residential financing doesn't currently allow for this and pulling money out down the road could be more complex or strictly in the commercial lending realm.Any and all feedback is appreciated!

It’s common to hit some hurdles with traditional lenders, especially when LTV requirements are strict or when cash flow doesn’t align with standard underwriting practices.If you're looking to refinance quickly and pull out cash, private lenders might be more flexible with both LTV and the cash-out process.

source_impr...Depending on your goals (using it for you and your family a few times a year and hoping it pays for itself, parking some cash for a few years and hoping for appreciation or strictly cash flow) will determine what size home and what your budget should be.

Upon further research it does appear the user @Bob Stevens is breaking the rules by using a different name, given that the email address listed with BiggerPockets profile is actually linked to the name Robert Prisco - we have strict rules about using your actual name in section II subsection A of our rules that can be found here https://www.biggerpockets.com/rulesBob do you have any response to this post that you would like to share publicly?

They both have some more strict STR regulations than I would be comfortable with.

Some posters told me I was too strict, and as long as they are paying, be happy.The rent price is $1350 and she paid $675 on the 4th. 

They're perfect for people who might have inconsistent income or don’t want to deal with the strict requirements of conventional loans.

@David KanarekI see you just started posting here on the site 2 days ago and so far strictly the posts about Norada notes.