I would be more than happy to make myself available for a conversation to get some more details and understand the whole scenario. 

FHA has caught on to this trend & updated the guidelines to prevent people from abusing FHA financing.Here are the guidelines directly from the FHA Handbook:Policy Exceptions Eligibility RequirementsRelocation: A Borrower may be eligible to obtain another FHA insured Mortgage without being required to sell an existing Property covered by an FHA-insured Mortgage if the Borrower is: • relocating or has relocated for an employment related reason; and • establishing or has established a new Principal Residence in an area more than 100 miles from the Borrower’s current Principal Residence.

This can be an extremely time-consuming and frustrating process but needs to get done.Borrower Calls – Once the servicer finds your borrower, they’ll make scheduled collection calls notating what transpired and what actions need to be taken.Collection Letters – A variety of collection letters are mailed out based on the delinquency of the borrower.Borrower Statements – Print and mail out monthly borrower statements.Incoming Funds from Borrowers– Any incoming funds from the borrowers will be received, recorded, and distributed to the investor, less the servicer’s fees.Year-End Tax Information – At the end of the year, the servicing company will print out all eligible borrowers who have made interest payments greater than $600.

Their customer service is second to none and they've got more education and networking opportunities than any other company. 

Generally STR's make more, but if you run your numbers and it comes back similar to your LTR numbers, I'd go with a long-term tenant for stability and less work. 

@Jason Conner have you tried a business line of credit?

I'm simply leading with my perfect scenario above as an example of what I would like to do so I can get possible suggestions on where to find investors who have the capability to do that...not necessarily all at one go 

(Are you finding rentals that cash flow more than than a 5.5% return on your down payment after ALL expenses?

Even less than that. 

Without knowing more about where you are and what you want to do, I wouldn't be able to give too much more than to check the zoning ordinance to ensure what you want to do is allowed and if it is, what implication does it have on your property.Hope that helps.