In most places, like Benjamin already mentioned, STRs and MTRs have different legal requirements and considerations.

Are you an aviation engineer and your company just lost its next contract.Do you work in an assembly line making wash machines and they outsource to China.Are you a concrete worker and get laid off since construction has cut back.On this forum the question is how is your REI moving forward.  

I just walked away because it’s better if I don’t get involved in something that may or may not even be legal.

It's not for everybody... that is why property management companies exist.

My first real estate investment was in Syracuse NY in 2005.I relocated to Augusta, Georgia in 2006 to learn with a multi-family investor/mentor.And then in 2009, I founded Auben Realty, which has grown from a small local shop to a regional presence with current locations in Chattanooga, TN, Columbia, SC, Greenville, Atlanta, Charlotte and Jacksonville.Recently, Auben purchased a property management company in Kansas City to begin our Midwest expansion.

Because the stock market is buying a % of a company.

I would encourage you to go the legal route instead of trusting the tenants word on their move out date if you are skeptical. 

I did list it on Zillow for LTR and have received some interest, a lot of it from STR arbitrage companies.

Now I see people accept the $1000 and turn around and "rent the garage" for $200 per month or "rent the appliances" which is legal so long as the garage are appliances are not included amenities on the HAP contract. 

With property tax adjustments and the mortgage company requesting an additional amount for possible future increases.