There economy is booming, property prices are low, and there's a strong rental market due to the influx of people. 

Besides having your name on the annual report, if you are seeking financing on the property, your name is going to be on the mortgage/deed of trust. 

My wife and I are looking at buying a property that we can live in and fix up (cosmetically) and then either rent it out as a standard SFH or as a short term rental. 

"Additional Insured" on Insurance Policy to Property as CollateralHow specifically should a private lender be mentioned on the owner's insurance policy to a property used as collateral to a loan.

If I've said it once, I've said it 1000 times: don't include a clause in your lease if you don't understand it or are unwilling to enforce it.I recommend you politely explain your perspective, then ask her to work with you to help market the property and find a new renter. 

I have two LTRs out of state that are managed by a local, fantastic property management company.

Can I self manage this property and still get a refinance?

I’m looking to house hack my first property and walked through a couple of properties that have a fair amount of square footage but only 3 bedrooms.

If the seller gave instructions to his agent to not present any offers under full asking price, then the agent is obeying the wishes of his principal.Sounds like you can’t afford the property.

W-2, 1099, etc.) with passive income/loss from my rentals (STR, LTR) is to meet the IRS requirements for Real Estate Professional Status or REPS (this also requires material participation in addition to specific requirements to be considered a REPS).Very unlikely that you will qualify for REPS with only an STR and a local property manager.