I don't understand why people use this argument.

Go to an attorney that understands the workings of the city.  

Just make sure you understand the STR regulations in the city you plan to Arbitrage in. 

@Stephen Montez from what we see here on BP:1) Investors NOT knowing how to get properties under "market" value.They all expect to pay price in MLS and cashflow.2) Not taking the time to understand different property classes and their pros & consThey often buy a Class C rental for the low price, yet expect Class A results.3) Trying to DIY manage without doing their homeworkThey try to penny-pinch, yet their mistakes cost them dollars.

You don't need a "mentor" to understand OPM, you just need an investor friendly lender to work with that is a bit more consultative, there are a few out there.

I will take a steo back from trying to get her to understand the financials and just get her dreaming about a nice new home for the summer.

@Bill Brandt at least for my understanding in my parts, they are all called a foreclosure. 

My income is difficult for an underwriter to understand.

I understand that I would need to find an operator willing to do business with me; I'm simply asking if it makes sense, and if it would be a scalable option to start my first handful of units. 

Make sure you understand your personal financial situation.