The SST doesn't apply for legal 2-flats so if you want to use FHA it's probably better to target those that maybe also have a non-conforming basement or attic unit.This is why the 5% down conventional loan is a game changer for house hackers.

I would acknowledge the price has been attractive and there has been no escalation in costs so far, however long wait times even after permitting is completed coupled with lack of transparent communication and doesn’t provide much confidence to investors.  

This is a numbers game so you may have to take an aggressive approach towards negotiating several deals before one of them actually works out.

Figuring out the best areas to invest can be a game-changer.

When it comes to the STR game, differentiation is critical, and that can be challenging with a 550 square foot oceanfront condo. 

Pay attention to how professional and transparent they are.Avoid Pressure Tactics: Scammers often pressure you to act quickly.

Each grouping had a common room (perhaps it was shared by multiple groupings ... this was a detail I missed) with a nurses/aid workers office.Central to the two sides of the complex were common facilities such as a dining hall, gym {perhaps a pool ... another detail I missed}, theatre &  games room.With one of the fastest growing groups in our society being single people, we are examining a related idea of a  complex / building providing a modest-sized 1-bdroom "apartment" with more semi-private and common amenities.When I read the title to your thread, I thought it was a project proposing to mix students and seniors into a single complex ... and came in thinking, this ought to be interesting :-) 

Now I am getting in the game myself.

For reasons mentioned above the post will not be removed for transparency reasons but thank you for sharing your experience and clarifying the situation. 

Based on some of the previous similar threads, it seems that having a good cross-border team is a crucial step in this game.