When I think STR, I am thinking exclusively of less than 30 day "rentals".

The borrower must also:Provide satisfactory evidence of the increase in dependents and the property’s failure to meet the family’s needs.Pay down the outstanding mortgage balance on the present property to a 75% or less loan to value ratio, exclusive of any financed mortgage insurance premium.Vacating a jointly owned property: If the borrower is vacating a residence that will remain occupied by a co-borrower, the borrower is permitted to obtain another owner occupied mortgage.

Largely, I just track the properties using the Tracking categories exclusively.

WikipediaLow crime - High crime and long-term appreciation and rent growth are mutually exclusive.

He will have to 1031 that portion or pay tax on the gain.You can combine sec 1031 and a primary residence exclusion on a MF property. 

Great point on the utility inclusion vs exclusion, I will check the norm in Houston. 

I've always had a lot of trouble getting personally financed and have exclusively used commercial loans.

I tried with Stewart Title and they are the ones that wrote the two year exclusion on redemption.

@Mellva J Patton, there are extended redemption rights in Alabama that are tied to whether or not the investor has taken and held exclusive possession of the property.

I don't see how the loan could be anything else but non recourse and exclusively asset based The LTV would probably have to be more conservative like 30-35% indeedHave you yourself sponsored deals where all majority partners went through credit and income verification?