I think many people have sufficiently answered your question, but here's an article that you may find helpful regarding STRs to determine if this is a strategy you are interested in.

Our application requirements with fee information are here.I don't know anything about Zillow's application, but I would think it may be sufficient.2.

Obtain estimates for planned renovations and confirm if the allocated budget is sufficient.

However, that's not sufficient.

So if you ave sufficient income to hold the properties and goal is long term wealth building, you are likely to be good.

I made this mistake when I was starting out - I got excited about the returns of a development deal - but I didn't pay attention to the fact that I needed to be a cash flow investor because I did not have a W2 income, nor did I have sufficient passive income yet.It is critical for investors to understand the relative importance of evaluating the sponsor, alignment of interests and the deal.  

But, something to add that you have to understand is that a 3-4 unit has to be meet the FHA self sufficiency test.

Yes, there is a chance the payment could be rejected for non-sufficient funds on the 19th, but I'm managing 400 rentals and it's pretty rare and the Tenants make good on it 99.9% of the time.

Those landlords that choose to artificially subsidize communities via suppressed lot rents do not generate sufficient reserves to set aside for inevitable capital improvements to the community’s infrastructure and aesthetics.

I ended up investing in 3 deals with Western Wealth Capital in 2021. 1 is underwater and they couldnt raise sufficient funds for capital call.