Professional property managers stay updated on legal requirements through memberships in state or national organizations.

If you don't have a key, change the doorknob to an appropriate interior knob that doesn't require a key.I provide my tenants with keys to all doors.

Now many escrows will require that the seller sign off on the EMD release, which can be frustrating since most contracts say it should be a unilateral function (buyer automatically gets their EMD back if they cancel within the option period), but if a seller chooses to be a jerk and not sign it, the EMD could be frozen in escrow, so don't use your rent money for it. 

Additionally, lenders may require a release price (a specific amount to pay down the loan) for each property sold, which can complicate the strategy.It’s worth discussing these details with a trusted lender or mortgage broker to ensure the plan aligns with the loan’s terms.

(larger would require fire sprinklers). 

I believe the requirement is 25% down for foreign investors.

It is more complex and has added requirements such as a formal set of books just like a corporation. 

A STR is a completely different animal in my opinion, in that it requires more work and much more compromise, but financially is worth the effort. 

If the property does not require an extensive rehab and just needs cosmetic repairs then a standard landlord dwelling policy in most cases depending on the carrier.

Additionally, involve a real estate attorney to ensure the transaction aligns with legal requirements and protects both parties’ interests.