You can use the AIO to buy investment properties (out of state is fine), but the max LTV is 70% and pricing adjustments if your credit is lower.I have an AIO for an investment property and it's been great.

The difference between the sales price ($800k) and the adjusted cost basis ($725k minus $80k of accelerated depreciation) is $155k.

Hire a local reputable public Adjuster. 

It can work but it is very labor intensive.

Be flexible, adjust to the times, and use financing judiciously to advance your investment goals.David KrulacBigger Pockets Podcast #82 

I've had it to where section 8 was delayed on that rent change even with the proper 60 day timeline and they back paid the rent to me based on the adjustment.

Don't expect the best DSCR rates for this property use as your pricing will get adjusted for this type of use.Commercial financing is also available for such uses, but can be more difficult in terms of cost and qualifying. 

I found the strategy to be less intensive than short-term rentals, but still challenging at times because there is more turn-over than long-term rentals.We make roughly 20% more on average in rental income with in being a Mid-term rental.My advice for picking a strategy is just to pick ONE and go ALL IN on that, so you can scale it. 

Sometimes the best plans are the ones we adjust along the way.If you're ever in the Phoenix, Chicago or Austin area, I've got some connections with knowledgeable brokers and other investors who've been through the dust and come out on top.

Have you adjusted your listing on AirBnB, Vrbo, and furnishedfinder for your off-season target demographic?