But this kind of gets at my main distinction in the question compared to other posts I've read here about the topic...

Lastly, you would also want to get a flavor of the cap rate for the area - without knowing the cap rate it's hard to know the value based on income assumptions.

The specific distinction is the HOA referring to my rental as a multi-family unit, which it is absolutely not.

There are so many different flavors of student loans that it's always hard to give advice.1) your student loan probably continues to accrue interest during your grace period.

The 2yr benchmark is for non-salary/non-guranteed income (there are different 'flavors' of salary...).While i don't do STR's, I think I asnwered your question above. 

“Every neighborhood has its own flavor and character,” says Emily Green, a REALTOR® with Sandy Green Realty in Minneapolis.

How Home Staging Creates an Emotional ResponseEach home has a distinct ambiance.

I say this because many of us, myself included, have a hard time making that distinction.

Think if it this way...zoning and allowable use are similar but distinct layers of regulation.

It sounds like you want to:1) Lease the cottage,2) Have an option contract on the entire property, and3) Use seller financing when you exercise the option (see https://www.biggerpockets.com/...)These are three distinct steps, but each of them is fairly straightforward and just requires you and the seller to agree to terms and sign a contract (1.