While residential development is generally restricted in these areas, there are specific circumstances under which it may be permitted:Special Mixed-Use Districts (MX): In certain M1-2 zones, residential use is allowed when paired with a residential district under the MX designation.

LimaOne is restricted to 1-4 units for now. 

I also live out of state, and am interested in STRs on or near Torch Lake - do you know if there are many restrictions in the area?

I was also told it was a business decision not a regulatory restriction.

The property is a full rehab, possibly more, and originally had restrictions from Freddie Mac requiring buyers to live in the home for at least a year, so I initially passed on it.

Unless its an odd ball property or some very high end or someone is paying far over market for it.

Odd that a title company would miss that, but not impossible. 

But I believe that if you're not violating any terms, not in a restricted industry or involved with anything deemed risky by Stripe then you're probably safe.It appears their move to Stripe is for accelerated payment processing, which is interesting since they acquired eRentPayment and Payment Report.On surface level it might be they're adding Stripe as an option on top of their existing infrastructure.

Picking this one back up: Dallas has restricted most short term rentals except for in certain areas as of this past summer. 

Also, keep in mind that some lender may have overlays that are more restrictive than the FNMA/HUD guidelines, meaning the lender's internal condo guidelines require more than FNMA/HUD.