It sounds like a good option for your situation where you have substantial personal use of the property, and the STR use fits within State Farm's parameters. 

It sounds like you have made up your mind so forge ahead!

While the financing and small entry price sound great, you are locked into their ecosystem with very little control.

Hey Patrick,That's awesome — —sounds like you and your wife have built an impressive portfolio!

It sounds like there are five strategies, and the first one is essentially inserting yourself into a deal by providing the funds for an earnest money deposit for someone like a wholesaler.

Driving for dollars sounds great but takes a lot of time and hits.

But like Mitch said, it sounds like you have had 4 winning deals and no losers.  

The homes are also priced well for the size, and it sounds like you like big homes that can stretch your money. 

Too many lose sight of this and divert their attention to other areas that become meaningless or irrelevant if the real estate is not sound. 

Sounds like you had a decent deal, and if it's your residence you surly can use it for your personal use with refi etc.