And they only offer homes in Houston, which really limits things.

And those also only have a limited ability at best to generate a balance sheet, which you generally want to include on a 1065 return.came here looking for answers to exactly this question, and David is correct re: why.

Within the last 2 months, I've been approached by numerous investors asking if I do rent by room which I currently do not.

I've allowed pets in my STR for five years and haven't had any problems except some extra cleaning a couple times, which was paid for by the guest. 

However, we typically use the FHA-203k loan because it involves a renovation, which I highly recommend if you are looking to really boost your equity and have the cost of the renovation wrapped into your loan with a VERY LOW AMOUNT OUT OF POCKET.I like the FHA loan, but honestly, the Fannie May Home Style is an even better product at this point because you just have to bring a bit more cash to the table 5% vs. 3.5% (w/ FHA), but you have a bit more flexibility.  

I have to evict using the landlord tenant route, but I don't know which reason to choose.

Gray area interpretation up to individual courts which have rendered seemingly contradictory decisions.  

I agree that many transactions shouldn't be done simply because you can.However, out of curiosity, if you had the opportunity to buy a $hit property with golden financing & then immediately sell the $hit property but keep the golden financing & transfer the financing to a great property would you consider it?

if you are worried about vacancy, then multi-family is what you should go for.

Have you tried attending your local REIA's and real estate meet-up groups?