In a state that a lender can get a deficiancy judgement if the deal goes through foreclosure the client can get their credit trashed and end up with a big fat judgement against them.. ( state specific).the reason your probably getting buyers that want to do this is because of all the online notoriety currently like Pace Morby who is huge in the space and the legions of students and followers and then to a lesser extent there is BP's own Sub to Guys..

Did some reading on your bio - Noticed you were interested in investing in commercial real estate, what draws you to that specifically?

Hello,I have an LLC, created specifically to manage rental property and I am currently creating account in mySmartMove.

In my rental agreement (lawyer reviewed and approved) it specifically says no smoking or vaping within 20ft of the building and all butts must be left in a coffee can with sand in the bottom and one is already provided in the "smoking area".Explanations are given for allergies, health, and second hand smoke etc. etc.I've not had any issues yet.

I would not be worried about that, as long as they specifically allow STRs, and the process and fees have all been voted on and are in writing. 

In my case I love the feature of using cleaning tasks for each project, it is a pretty good way to ensure that all your specific needs will be complete.

Is there a specific strategy that you'd recommend for someone young like me to get my feet wet or should I just go with what I'm most interested in and have the most knowledge in, which is buy and hold rentals?

Any specific areas you like or any areas I should stay away from?  

It may depend on your agreement with the bank, I don't know the specifics of your contract, but I would read it carefully, you may be able to do a bifurcated closing so that you can use your own title company for your side of the transaction.

While specific neighborhood recommendations can vary based on current market conditions, areas close to universities, medical centers, and business districts tend to have strong rental demand.