What are pros and cons or restrictions? 

Shoot me a DM and I'm happy to chat.Chris Also, Portland (in the city) has restricted STR licenses to owner-occupied properties, so that won't work if you're living in Salem.Wow good to know, thanks Chris! 

They’re less restrictive since they don’t rely on personal income or DTI, making them a great fit for BRRRR.

Reach out to @Alyssa Holbrook as she has a property she is trying to do it on now.Thanks a lot @Jonathan GreeneI was reading the SLC docs and it seems that the restrictions for owner occupancy only applies to single family homes and duplexes are exempt.

Any local land use and zoning restrictions?

Given your residency restrictions and budget, focus on smaller multifamily properties in counties like Orange, Putnam, or parts of Rockland, where prices are more manageable.

Coupled with HOI restrictions, it'll get even harder.

It's also important to be aware of any deed restrictions or covenants that could impact your intended use of the property.A Personal Anecdote:I once assisted a client in Omaha who purchased a Freddie Mac home intending to convert it into a rental property.

My CIty does not have a boarding house regulations or restrictions which is one of the reasons i jumped on this.

Hi Joel,I am interested in start doing the same as you to be using it for medium term rental (28+ day stays) arbitrage in GTA (as short-term rental stays (less than 28 days) are restricted).