Does anyone here know anything about any government programs that would pay for hotel rooms.

With your wife's salary, you would qualify for some pretty great down payment assistance programs and subsidized interest rates on your primary residence.

You can use a program to track the income/expenses and run reports.

Just like that millionaire can't take out a $2m mortgage on a $300k home, the person killing it with a STR can't finance more than the LTV restriction would allow for the loan program in question, and it's not 2007 any more so no one is doing 100% or 120% LTV cash out refis (yup, >100% LTV cash out refis was a thing towards the end of the 2004 to 2008 era, and we saw what that did to the global economy...). 

Is it possible to use the LIHTC Program with single family homes.

There are many other options with flexible pricing options and affiliate programs (which end up paying for batch skip tracing).

That size would limit the number of life companies that would lend but there would be interest from a handful if the property is stable and in good condition.Freddie Mac also has a small balance program $1-$7.5M that would also be a good resource. 

Many of them were fixed income and disabled and had the entire rental amount paid through the Section 8 program and all of them lived there for years.

You might want to take a look at my WISH program for down payment assistance as well. 

We just track the P&Ls on the building separately through our property management program.