This also only works for cash buyers willing to buy and hold. 

Any tips or insights would be greatly appreciated!

Tried getting quoted from OBIE last week and this is the response I received for some some properties in Central Florida:" Hello,Thank you for requesting a quote with us.I apologize currently we do not have any carriers available for your properties in Florida.

Is this what you would do? 

This will get you 90% of the way there and should be sufficient.It works the same in a saturated area, it's just more to sort through.You are aware that STRs in Denver are allowed only in certain zones and you must live onsite?

As long as the city considers your property a true SF, you shouldn't have any issues getting this permitted (in theory, yet to see how some municipalities will handle this law).

This is critical.

You rarely will get both (at least not right now in this current market).If you want to explore different opportunities within various areas of the Valley, get a seasoned investor-friendly Realtor who is competent. 

What made you interested in investing in this type of deal?

This will also change from community to community.