If you cannot qualify for HomeReady, SECU is a fine option and as i said before, rates should be headed down and you should have plenty of time to refi into a 30 year fixed rate so long as you are able/willing to stay in the home for an additional 12 months after the refi.

As a retired CPA, I have seen more than my share of bankrupted RE investors who were over leveraged with many properties.All the more reason to emphasize developing good due diligence practices, having some skin in the game and staying on top of legal requirements, maintenance, finance and tenant screening criteria.

By focusing on 30+ day stays, you don't run the same regulatory risks as well. 

We stay at our house on Kauai when we are in between tenants.

Since you have two children who need to stay with you in St.

For illustration purposes, here's a fresh example that was brought to me: 95% seller financed  for 3 years I/O at 6% for a 30 door hotel.

LTR MTR or STR is fine, just wanted to know if its worth buying a house there, staying in it for a year and then LTR or STR or MTR?

Yes, it makes it more appealing to tenants searching for a place to stay, but you can always add AC / used washer & dryer units later on in order to make the unit more appealing. 

But if you're considering converting a basement into an ADU, make sure to check out the county guidelines to stay compliant.Hope that helps!

I stay away from historical buildings in general for all of the above reasons and more, unless it's a larger scale commercial building with concrete floors and great "bones" that can separate the uses/tenants better.