I have also heard Newark is strict with obtaining the CO.

Old Republic is more strict than others from what I remember.

It doesn't have the same strict rules but does require 10% down and over a 680 credit score.

I routinely do things with investors who are 10-15 years or more older then me.

Yes, I agree this is not strictly an investment property and lifestyle is involved.

The criteria for the inspections is pretty strict on safety and good condition so take that seriously.

An STR is very basically an alternative to a hotel, so if the market supports hotel and motels in a given geography, you can be fairly confident your STR would work, especially as you consider the changing demographics of travelers, i.e. younger and more interested in experience vs. strictly convenience. 

There is a whole gamut of private lenders from individuals who lend occasionally to corporations that have strict guidelines they must follow.

If I create a property management company strictly to manage my properties does this apply? 

We feel like if we bought another unit that was strictly for investment, we could come closer to breaking even from a cash flow perspective.The question is, what am I not thinking about?