However if you plan on buying 3-4units, there is a trigger rule for FHA, it is called the self sufficiency test.

This is definitely a place where you can learn and move toward that best version of yourself.

You could do better in my opinion.

I am going to assume you do not live in the property area to where you can go and do it your self! 

I highly recommend you travel to the market yourself and spend a couple days driving around, looking at various properties, if you are going to be buying anywhere.  

What type of strategy do you intend to stabilize with?

Because I got trained and knew that it was just a matter of time I'd find a deal.

If you find a sublet-friendly co-op and it requires an "All-Cash buyer", there could be a good reason.The points you mentioned regarding co-ops are valid but do not apply to all co-op boards across this market.

Had the chance to do this flip with a close friend that did not have to capital to take it on themselves.

     Just a reminder to everyone doing short term rentals to check with your county to see if you need to be paying a hotel occupancy tax.