Spokane has recently changed zoning and development policies to be much more friendly to making additions so you won't be fighting too much red tape.

This is an additional step that would not be present for developing a lot where you are adding value.  

Additionally, Airbnb’s policies support hosts when guests do not comply with house rules.

My best advice is find a place that has a few rooms with square footage to add additional rooms and an ADU.

Additionally I would suggest having the long term financing relationship built so that they can easily transition the deal after renovation. 

Many investors budget an additional 5%–10% of gross rental income for CapEx, though this too depends on the property’s condition and the age of major systems.

In addition, Pace Morby's team could have systems in place to vet the deals for which loans are sought.

IMO this is much too little additional return to put your personal residence at risk.  

Additionally, the transition process itself could create uncertainty in the market, making long-term planning more difficult.Opportunities for Private Lenders & Alternative FinancingWhile some investors may face challenges, privatization could create opportunities for private lenders and non-bank financing options.

Additionally, I wanted to begin using properties to pull equity to go towards buying more.