If you want better cash flow, 35805, 35810, 35816, and 35811 are likely the choices. 

Here are some thoughts on your choices:401k Loan: This can be a good option since you're borrowing from yourself, but it comes with repayment risk, especially if you leave your job.

You can find some absolute MTR gems near smaller hospitals that aren't so obvious but ultimately, housing supply in the area is something I'd say is more important coupled with your amenities.

And 3 days a year I spend about 30 minutes pondering a repair, rent increase or turnover choice. 

My ultimate goal is to house-hack this deal as well. 

I ultimately did not do it but I'd be interested to hear if anyone tried that program or knows of anyone who did.  

I am also a licensed EMT, and would love to provide housing for travel nurses, contractors, etc. in that realm since I can relate to them in previous jobs that I've had.I'm looking to invest in these states preferably: Georgia (1st choice - preferably near or south of ATL or in/near Savannah), Alabama, South or North Carolina, and Florida.

It will ultimately depend on price point and what level of service you want to provide. 

Should it simply be one of two choices: deny application or accept application with ESA exemption even if the property qualifies for the FHA exemption?

My ultimate goal would be to buy fixer-uppers to turn into long-term rentals.