I might look into financing options for the property and utilize the HELOC for the down payment.

That said, that now that the market has softened a bit, folks wanting the work permitted is probably going to be more common so it may not be a bad thing.My final thoughts are about your hard money lender.

This would have to be an off grid property as there are no utilities in this area.

MTR and Section 8 are very different niches with little in common so it's very difficult to provide advice on your question.

While I would gladly accept an AirBnb booking, my property is less a vacation rental, and more a utility for traveling professionals/displaced families. 

It is very commonly seen in older homes.

. - Maintenance & Repair: 5% of total rent- Cap ex / utilities: 5% of total rent- Property management: 8~10% of total rent- Misc & reserve: 5% of total rentFull rent: 4800(rent) - 2600(PI) - 800(TI) - 1150(Expense) = $250/mOwner occupied: 3600(rent) - 2600(PI) - 800(TI) - 1150(Expense) = -$950/mOwner occupied & no PM: 3600(rent) - 2600(PI) - 800(TI) - 700(Expense) = -$400/m I thought it would be $0/m if owner occupied although $400/m for myfamily is low enough.

Also is there a way to find out when the house last had utilities on? 

Keep in mind utilities as well. 

However, this structure is typically utilized by investors who are looking to purchase multiple assets over the years, if you're just starting out a single LLC could also work (you can always scale your legal structures later).