@Nick Rivers, where do you feel you are coming up short?  

The high return investment option in Oregon seems to be coastal short term rentals, and we haven't gone that route yet. 

Short answer, no - not to my knowledge.

Working with the city to find a solution.There is a similar situation near me where an investor bought a short term rental house, rehabbed it, ran it for a while, and then got in trouble with the town after a neighbor complained and the town said short term rentals weren't allowed in the community. 

Sometimes I've heard of PMLs doing "creative" financing like this where maybe they do a very short-term loan that can be paid back once you sell the land.

The only other option I see is a short sale, if you don't need to purchase for a few years and don't mind a temporary credit hit to save the $60k.  

Two tenants leased the 2BD/1BA, and the studio ran on short-term rentals.

No...there are many reasons why installing it over the carpet will prove to be a nightmare in a relatively short period. 

If anything, at least wait a year so you don't pay short-term capital gains on the sale of the property.I need to find some more deals like that here in Chicago...where in Houston was this property?

that OR consider buying a property you could short-term rent to people who literally just want to visit the casino if it's a large/decent one.