(A family member has a tenant that is in an HVAC apprenticeship program.

@Aaron Goetsch,I'm independently working with Lima One as an Approved Broker.I strongly believe that Lima One has the best Rental Loan programs which i think is suitable for your deal scenario.If you have interest send a PM with your contact and i will send you further details regarding all their Rental Loan Programs and assist you moving forward.

Any good programs out there that aren't $500!

You could also look int programs like the good old fashioned Dave Ramsey Plan or talk with the folks at the CCCS (Consumer Credit Counseling Services) https://credit.org/cccs/.

@Jonathan Schwartz  For 1-4 family properties with government backed loans (FHA, VA) you cannot be within 300' of a gas station or any fuel storage facility.A 12 unit is obviously going to require a commercial loan. 

I actually prefer to leave them as the titled owner because there are no property taxes as government entities cannot be charged taxes.

We are last in first out of any bubble because of our huge government and university job base. 

Being able to take advantage of loan programs that are specific to first time investors is huge. 

We would join their 'owner program' which entails letting the resort property manage it. 

As the others here mentioned before, it's critical to check with the local planning commission and city/county governing bodies.