Maybe your situation is different and if you don’t feel comfortable in the neighborhood then this may be a moot point anyway.As for FHA, my understanding is that you must intend to live in the house for a year  it sounds like you did intend to, but due to unexpected circumstances- lead exposure and unexpected unsafe neighborhood- you have to move.

My understanding is the Padsplit’s member agreement model is to avoid such situations.

@Jaskanwal Preet Singh ChhabraRefinancing a converted property for coliving involves appraisal, loan types, interest rate reduction, and careful planning.

There are also several local meetups for investors so it's easy to get involved. 

I want to invest with a 10-yr horizon in mind, understanding holding an asset that appreciates, while someone else pays down your mortgage, but that is if you at least break even!

I will also be tracking expenses related to repairs, maintenance, travel to and from NV, hotel stays, meals, gas, and other regular business costs.In the long term, I aim to purchase additional properties under the business name, but I understand I need to establish at least two years of income and credit history before doing so.The issue I’m encountering is that my accountant has not provided any guidance on how to structure this scenario.

Please note the information provided below is a layman's definition designed to provide a basic understanding for the general audience.

I think renting out a single family can be a viable option for some people as long as they understand it's not going to cashflow like a multi. 

I'd recommend speaking to a referred lender to help you understand all of your options.

I’ve found that working with someone who’s local and understands the market dynamics can really help avoid costly mistakes.Keep us posted on your progress—I’m sure others here would love to learn from your journey too.