I was showing a spot to someone a couple of months ago and they had a similar idea as you do Stanley and they pointed out the 2 foot wide window in the basement and I had to tell them that an appraiser/inspector will not consider that narrow window a form of egress.

The regulation was possibly written before AirBnB was a thing and they used VRBO generically just like someone uses Kleenex or Band-Aid generically. 

Sometimes you'll see Reg A offerings, which in my opinion aren't great for real estate either.More broadly, sometimes they're referring to Reg D Rule 506 b and c exemptions to registration, which are very commonly used. 

After you narrow down the list, what's the next step you take to get down to only one property?

Start with narrowing it down to states to consider.

Research the various REI strategies, and narrow your options down to the one or ones that fit your goals.3.

😳 Having a back up buyer already under contract we took option B and terminated.Buyer #2 was happy to step in and take over the contract.

From all of my reading, listening, and discussions, I believe I want to begin investing by using the buy and hold method and have so far narrowed down my niche to single family homes.

Narrow down a few areas you are most interested in.

Let them paint the picture for you, point you in certain directions to get you started, and then you can narrow down your research from there.