Since this will be our first long distance investment it feels like we're starting brand new and would love advice for first time long distance investors.

This approach is cost-efficient and eliminates the complexities of dual-state filings.

This is a great place to learn and to connect with people so take advantage of all the great resources.

My question is, if I was to proceed with the Subject To deal, will this somehow be discovered?

Where the loans go wrong is usually not with the loan terms. 

I’m aware of this happening once previously last summer, but thought it was a one time accident.

I've seen this in the news.This doesn't affect me because I'm small time compared to these big companies.I also don't purchase any pricing software.

You should reach out to @Melissa Haworth she can get the actual numbers/rents on STRs in the area to help run your comps.Each building is different, each area is different, it is important to find accurate data to make good decisions.

You may just want to put 3% down on your next place and rent out this one.

And most folks want to "roll in" this cost into the loan.