Your first few years will be slow going, even if you BRRR because you also have to occupy your propety for a period of time to get those low down payments.

Second all regs apply to owner occupied residences and NOT commercial or investment property, although in theory it should not matter.

If we determine that your dwelling should not be occupied because of damage or risk to property, health, or safety, we may, at our option, terminate this lease. 

Only caveat I would add is that the OP mentioned that they no longer live in the property which takes owner occupied options like FHA 203(k) off the table. 

Does the STR have to be owner occupied?

Our first of hopefully many.The cash flow when occupied will be in the neighborhood of $3500 to 4K with an 85% occupancy.How would you structure the payout?

We’ve had 6 showings in the past week alone, which is already a lot, but the most concerning part is what’s been happening during these showings.Here’s the real kicker: there have been showings (with prior notice given) when we weren’t home, and my cameras caught prospective buyers entering unaccompanied—no realtor, no landlord, just strangers walking into my occupied home.In one instance, my husband happened to be home and answered the door.

@Ndy Onyidoreplying your strategy on #3, I will add the following for you to consider.Most of these properties as @Rick Baggenstoss had mentioned are run down , townhomes, land lots.There may be additional liens on top of the tax lien, such as HOA lien. also with the townhome communities, some of them has rental % restriction; meaning the HOA only allows so much % used for rental. the rest has to be owner occupied.

Quote from @Alex Lickenbrock: Currently owner occupying a duplex in Cincinnati, but contemplating a move to Cleveland for personal reasons.

using owner occupied loans can get 96.5% LTV.