Seems like my area is allowed to do STR and I was able to obtain where to contact to, to make sure what I found is accurate. 

I don't yet have much experience obtaining seller financing, but I would think that emphasizing the tax benefits is a big one.  

What are odd of obtaining property doing this?

If this seller just renovated, hasn't owned it long and has a mortgage, your chances of obtaining favorable to you proper SF are low anyway.

If you don't have the liquidity to purchase the property your other option is to finance the acquisition but how do you obtain financing when you can't even show sufficient down payment funds/liquidity on your PFS?

If we can find an investor to help us obtain the property, we have no problems in paying the mortgage just as we've been paying the owner of the property's mortgage for 11 years.

My plan is to obtain a triplex or quadplex and house hack that for a year.

Obtaining copies of two more tax returns used to be a difficult task for the auditors, due to their antiquated technology.

The logic behind this is once you pay off the mortgage, you will obtain a level of satisfaction that will make you want to pay off the next balance faster.Best of luck on whatever you decide to do.

Patrick  I was a CFO for a PM company managing 1500+ units using AppFolio.I am currently consulting for a PM company with about 200+ units and set to obtain another 45+ units by the end of this month.not sure what kind of guidance but I think I can help.