Maryland’s DLLR site you mentioned is definitely a step in the right direction.

Like Thomas mentioned, leveraging your personal residence carries higher risk.

You didn't mention having other money available.

I just mentioned 3% because I cannot even find anything that produces that. 

It's worth mentioning the STR regulations are relatively new, and I think some properties currently operating are basically grand-fathered with the old permit, and I don't know if being a new owner one'd be able to get a new permit if it's not in the designated location.

Like others have mentioned, there’s appreciation, depreciation, leverage, and tax benefits that produce a compelling risk adjusted return. 

Not to mention the cost. 

As you mentioned, this could strengthen my credibility and certainty to close when moving on to larger deals.

@Federico Dallo you mentioning vacation-type locations leads me to guess that you may want to use the property yourself occassionlly?

Being a normal person and giving someone a heads up has not bit me, yet.In addition to what the law requires, I always shoot the tenant a heads up either via text, call, or email.If they are mostly responding to email, then shoot them an email.Emojis and gifs work wonders in today's day in age.