I am but a short drive in the pocono mountains / scranton area.

Turns out, the right marketing found renters who appreciated the quality and were willing to pay a premium.

@Allen Zhu if you are refinancing out of a DSCR loan, you don't typically refinance into short-term hard money loans.

The short answer to you question is yes. 

Quote from @Anil Shah:  Short answer - if they originate a loan that they want to sell to Fannie Mae and Freddie Mac, they need to follow their guidelines.

The strategies I'm most interested in are Flips, BRRRRs, small multifamily as well as short/medium term rentals.

So you need to develop your checklists before you bring your first deal.  30 days is a very short time to execute and learn.etc etc.Use the above to start the development process for your wholesaling efforts.

Underestimate the costs and come up short needing the funds?

Quote from @Steve Englehart: I currently have two long term rentals and am looking into buying into the short term rental arena.  

Credit pulls for the same type of loan within a short window (usually 14-45 days) are treated as one inquiry, so your score should be fine.