I think the difference between keeping as LTR, converting to STR/MTR, or selling comes down to what you plan to do with the proceeds and how much time you have to work the STR/MTR.  

To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

If its clearly spaced out and documented that you are only occupying one at a time while you keep fixing and moving should probably be OK

I’ll definitely keep that in mind.

Keeping it short here.

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My wife and I are looking to househack a property which we'd later like to move out of and keep as a rental property.

This will help keep the project from dragging on.  

Now, it seems like the goal would be to keep that property in the long run, so you would want to Refi that in a few years when rates come down and you again can qualify for a more traditional mortgage, but there could be a path to getting around $100k and taking the next few years to focus on banking cash flow and possibly expanding.I know, it's a bit out of the box, but if we were just blue sky talking about a solution, it's possible. 

We have not decided whether or not to keep using the flooring yet though.