You could live in one unit and rent out the others to offset your mortgage, staying within your $4,500/month affordability limit.

While cash flow can be limited within the downtown area, there are still excellent opportunities for cash-flowing rentals in surrounding regions.

One issue I see with this is that I do not have a real estate license so I don't think that would create any issues with STR management, but as for MTR management it seems like there are certain limitations without a license - any feedback on that would be appreciated-Staging properties primarily for FSBO's as I know properties listed by realtors will typically have an in-house staging offering.

To invest in Section 8 housing, look at areas such as Cleveland, Columbus, Cincinnati, and Dayton, choose safe neighborhoods, study Section 8 standards, analyze property types, and explore financing choices.

In my state the standard contract used by realtors addresses this issue by allowing the agent to check a box specifically to limit the seller to keeping the EMD as opposed to going after "liquidated damages" like that.

The most important thing is to know the details of your local program like the back of your hand, then look for loopholes.Just to give you and the other BP'ers a deeper handle on why some TDR programs work and some don't, I just uploaded an excellent study on the topic to my FilePlace at http://www.biggerpockets.com/files/user/ChrisNewma...

Difficult to defend places -- hillsides with limited transportation options, etc. -- won't be allowed to rebuild at all.

So, to try to go a legal route because they might have fixed something a little over the limit isn't going to work.You will have to face that you selected someone that was not the right fit and be more hands on. 

With a Conventional Loan you can buy a SFH, Duplex, Triplex or Quadplex with as little as 5% Down if it is your primary residence as long as you have the intention of occupying one of the units for 1 year after closing escrow.This is the strategy I have personally implemented and have assisted many of my investor clients in doing the same. 20% Down is also beneficial as it keeps your payment low but it does limit your ability of buying more real estate faster.i would be more than happy to discuss the different strategies with you over the phone or in person.

Best to study these and do the correct due diligence beforehand so you are not disappointed in an investment.