Also any tips for automating this as much as possible and how to protect the property financially and property management would be appreciated.I ALMOST understand the rental arbitrage strategy if building a company scaling with say 30 + units and looking for high short term cash flow.  

Quote from @Michael Rodriguez: Howdy fellow Memphis investors,Any ideas for protecting thieves from pulling out the HVAC copper pipe? 

LLC offers better legal protection.3) Setting up in states that allow your identity to be hid is also overblown.

When it comes to analyzing properties, I’ve developed a specific checklist to make sure the home fits both resident needs and operational goals:Square Footage: Ideally, at least 2,000 sq. ft. to ensure enough living space for residents and staff.No Stairs or Pools: It reduces liability and keeps the home accessible for everyone (this is just my preference).Corner Lots: I love corner lots because they often provide extra parking and outdoor space—both of which are critical for families and visitors.

Take the average household income in an area of working class residents. 

It offers flexibility as a landlord to be able to offer more or less rooms as needed, protection to the landlord in that you can hedge with adding LTR or STR to the mix, and simplification to the business as your only dealing with one address.

Quote from @Khon Kounbandith: Investment Info:Single-family residence fix & flip investment.

Take advantage of the Capital Gain deduction of $250,000 in primary residence per “spouse”.   2.  

Once the rehab was done I refinanced out of the private loan into a conventional loan as a primary residence.

However, consider STR seasonality, local regulations, and management demands, and ensure your equity loan and new primary residence costs fit comfortably within your budget.