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Instead of limiting the search to 14 properties that sold above 80k, I pulled properties that were similar in location and sqft.

To answer your question - within the city limits STR's are not permitted, outside the limits there is no regulation.

Often times those who enter the alt lending space wind up with novices as their customer base with poorly located collateral and limited experience.  

If you find properties outside of city limits that might help with possible regulations. 

I would like to know what to expect and I would like to be able to set my future client's expectations when they are ready to make the switch. 

If appreciation is limited then this deal is average not knowing more information.

I am an investor located in Michigan and in the process of developing a business plan but am struggling to figure out how to set up my LLCs with scalability in mind.

Make sure you set clear investment goals when you are doing this little by little as well as viewing house hacking as an idea for getting rent from it.

@Tony FerreiraYou have good options based on the limited amount I could gather based on your post.Shot you a DM, please feel free to follow up if you'd like!