We are still seeing 1000 people a day enter Florida and they all need someplace to live.  

Even if you move out, you can still cashflow +As for single family or multifamily, you can always start off by house hacking meaning you live in one UNIT or ROOM and renting out the other vacant units/rooms to offset your monthly mortgage payment.There are several ways to run and make sure you are maximizing your rental income while keeping your living expense as low as possible.

How do I rent properties to Sober Living?

But generally lenders want to see the renovations outlined, costs, materials used, and specific descriptions (for example : install hardwood flooring for all bedrooms and living rooms). 

The exemption is applied to people that have lived in the house for 2 of the last 5 years. 

Right now the people living there are carrying water in and out of the house...obviously not a good situation.Thanks in advance for any feedback and advice. 

My parents live in Prescott, Arizona and it seems to be an area that has continued to boom, has low vacancy rates, and a bit of a shortage of rentals.

Correct, the same prohibited transactions rules would apply to using a unit as an office as they would to living in the unit.

My investors don't want to live with their tenants and be constantly available for questions, complaints and service 24/7. 

Edward, Do you plan to buy a place to live in and rehab or are you going to buy a place to live and a place to fix and flip?