You could work a deal and take a speed boat or airplane or equipment as collateral for a loan, just not the borrower's residence or other covered property.The two biggest issues are the ability to pay requirements and the RMLO seal on the note.ABTP must be done properly, even if you do a deal that isn't covered, you still have predatory lending and dealing issues and if you don't conform there on any transaction you can still be nailed, may be not under DF, but nailed just the same.The RMLO seal must be affixed to any covered note/agreement to be valid.

Once I'm done with the forums related to duck hunting, shotgun reloading, MIG welding, heavy equipment work (dozer & skidsteer) and weightlifting; I go to this forum for STRs.I mainly like to share my horror stories...someone overdosing, entering a vacant STR when there is an intruder inside, watching another intruder break in a house live on a security camera, tenants having affairs with other tenants spouses, disconnecting utilities to encourage problem tenants to leave, etc.

The exterior yard and house is in immaculate condition, the roof appears to be in very good (~10 year old) condition, but the interior and functioning of fixtures and equipment is unknown.

Make sure the equipment qouted is all the same size, so you are comparing apples to apples. 

I'd bet that, over time, it's cheaper to have separate systems for each unit... but, if you include the initial cost of setting it up (new equipment and new plumbing) plus servicing and periodically replacing the equipment, I'm not entirely sure how much you'd ultimately be saving. 

You can charge a premium for a furnished room (bed with mattress, night stand, dresser, desk with chair and mini fridge is what I equip all my rooms with).  

Ask if the provider can remotely restart the modem in case of a problem (if you're leasing their equipment, they can likely do this).  

If you arent equipped to handle the workload required to manage these units, they can get away from you very quickly.

AND THEN wouldn't you be properly equipped to absolutely dominate your local market when it comes to buy and hold investing?

I may be able to differ other income, or purchase some equipment to offset the gain, but haven't done that before so I'll check with an accountant to make sure I do it right.