Sorry if this has been covered before, we are located in Minnesota if that matters.   

The HML covered 100% of the $32,500 rehab budget through drawbacks.Refinance: Post-rehab, I refinanced into a primary mortgage, creating 25.5% equity in the property.Future Financing: I plan to leverage the property with a HELOC to access up to $86,000 in capital for future deals.

Or maybe the units aren't equal and one rents for $2800 covering most of the cost of living there. 

It doesn't cover any loss of income due to your rental being repaired.

We like the short-term rental idea because we could stay at the property ourselves when we want - summer break, spring/winter breaks, etc.Our budget will be right around $1M or less ideally, and we would like a short distance to the ocean.How likely is it that we could find a property as described above and have it cover or come close to covering the mortgage? 

I'm making a healthy downpayment cash by doing a cash out refinance on three of my established properties that I know can cover the debt service handily.

However, most of these properties still cash flow well (or enough to cover PITI). 

The zoning office suggests reviewing the zoning ordinance, but the course didn’t cover zoning assumptions in detail.What’s the best way to verify zoning suitability and double-check zoning information?

You can cover the wire mesh with drywall patches (they tape on wall and across the wire, white/paintable, different sizes) as the wire mesh is what will prevent the rats from eating their way into the property (the covering material is cosmetic only).

They can also give you a better idea of how much you should be prepared to pay so you can cruise through your closing with confidence.And as you plan ahead for closing day, be sure to budget for your real estate agent’s professional service fee too, in case the seller doesn’t cover it.