Also, the banks that did approve me told me that they could only use the rental income from the other units (75% of it) for an FHA loan, not a conventional with 5% down (which was my goal to avoid upfront PMI and have it automatically drop off at 78% LTV).

A few months ago I recall seeing a new email about Airbnb partnering with apartments in select cities where the apartments and city already pre-approved the ability to short term rent.

I notice you skip right over who does the clean up, Jim, and who has to approve building in areas that aren’t defensible.I also see that now you admit that your fairy-dust belief that people “will” work with insurance companies to clean up is not necessarily true.

We are also on Booking.com, Google Vacation Rentals, Marriott Homes and Villas, and more via a channel manager but some will not approve without a certain number of units.  

As an investor, you'll need to wait until this period expires before your offer will be considered.Additionally, Freddie Mac may require proof of funds or a pre-approval letter with your offer, and they often prefer cash offers or conventional financing.

If they do it increases your odds of getting approved.

Now I'm being told that because of the charitable contributions listed on the corporation paperwork we need to submit a full appraisal to the state and that the state attorney general needs to approve the sale.

Keep in mind if approved, you will only be able to turn on once for a max 72 hours so coordinate the appraiser if applicableYou bare all the costs of turn on and turn off costs with the utility companies. 

The process is very involved as you'll have to navigate pre-construction activities that involve architectural plans and approval from the city and then the construction activities (Shovel to soil) take anywhere from 5-9 months depending on how much your building. 

It happens rarely enough that I haven’t taken the next step: to figure out how to let approved applicants tour apartments unsupervised."