So find out actual details about requirements, loan limits, rates and fees first from a lender who actually offers it because it’s not worth it if you can’t find a property that still cash flows well after you take that loan out.

I have had clients rent out to students on college hill and make solid cash flow with little to no problems. 2-4 units seems to be the sweet spot for getting high rents.

Something that throws off some cash flow and will continue to build equity (either through rental or price appreciation). 

Sure, you can make your unit extra special through design or amenities but when most of your competition is similar in size/shape, those extra items can only warrant so much of an increase in ADR. 

If you're looking for cash flow, find a market with strong rental demand and high yields.

You could also do a walk tour through the facilities any ways to get a feel for the competition.The good thing, if as everyone has noted to you, check zoning; you are closer to the population than all of them. 

Through researching, I found that, in FL, I can manage self owned property.

The cash flow from this property ($1,300 profit after expenses) can also help support your ability to qualify for a refinance.HELOC (Home Equity Line of Credit): Another option to access equity is through a HELOC.

Any advice / recommendations for what course to go through?

We want to cut through the noise  and bring more transparency and community to the space.