Yes you can do short term rentals but there are some clauses in there that make it not worthwhile. 

It is worth while to spend a bit of money and get advice from your legal counsel.  

I definitely think it's worthwhile to contact them all directly.  

Or even worthwhile?

If yes, maybe an LLC is worthwhile.  

My guess is that it will be a pretty big chunk of change to replace them and whether the return on investment would be worthwhile - I don't know but I'd bet no.  

Is it a worth while investment to look into these areas for a 100 dollars a month? 

I haven't seen anything worthwhile for under $125K in the areas I'm looking.

That's the reason I used most pessimistic to most optimistic estimates in APOD analysis.And I also want to know if it is insulting if I go with an offer based on my analysis if it is significantly lower than the list price or is it still worthwhile making an offer.

In our general area, there are not many single family homes that sell for under $150K and those properties wouldn't generate enough rent to make the investment worth while.