I can get you a short term note, 4-6 months no issue.

@John O'Leary  I kind of have the same issue, but it's a condo in the building where I currently live.

I work directly with other private lenders who have been doing this far longer than Pace's program who have established a great track record of ongoing incoming deals and have legal systems in place.

@Jen BreyslerThis post answers your question if you scroll down through comments to my reply:https://www.biggerpockets.com/forums/51-tax-legal-issues-con...

Im a fix n flipper, and this is my first year reporting income from the business to the tax man and I don't want my taxes to have been reported incorrectly for fear of future issues should they arise. 

You need to build a team (Legal, Title, Appraiser, Accountant) just like when buying real estate. 

I would simply Google "legal restrictions for short term rentals in city X" or "short term rental permits in city X".  

I know it's a ton of information, but is there some sort of reference guide I can obtain that will guide me to the correct information I need to get started correctly so I don't get into legal trouble down the road?

He might  consider  selling to you and saving some funds in his  bank and  using a reverse mortgage to  purchase the proeprty .   2)  for your side -if you need to keep the down payment low - using the  VA loan is a great idea ...already having a VA loan outstanding you might have an issue  using another VA loan . 

This shouldn't be an issue for most DSCR lenders.