If possible buy 3-4 unit properties as you should be able to apply 75% of the income towards your DTI to qualify for the loan.

Every adult residing in your rentals should be screened and approved by you.Criminal history is not an automatic denial, but you should definitely consider risk.

I am also thinking of using a cash out refi on my primary residence along with some cash that I have saved to finance the purchase. 

The IRS considers rental income "passive," and losses can only offset other passive income unless you qualify as a Real Estate Professional. 

The post office has been at this location for 80 years and all of the residents need to pick up their mail from the Post Office, there is no delivery. 

LTR is more plausible but often HOA requires primary residence for a period of time before renting it.  

There is insufficient housing growth to accommodate all the new residents, so they are competing for the available housing.What is bringing so many people to Las Vegas?

The DSCR compares the rental income to the property’s debt, and as long as the property covers the loan payments, you can often qualify without needing tax returns or traditional income verification.

Second all regs apply to owner occupied residences and NOT commercial or investment property, although in theory it should not matter.

When you do any agency loan (conventional or government) as a Primary Residence, you are signing a new 1 year "occupancy clause".