Allows you for more flexibility, should you have cash flow issues.

if you qualify already and your net worth is below 50k then its not that big of deal, if otherwise, then I suggest looking for non prime or sub prime programs or keep searching for credit unions are usually a little bit more flexible etc

As long as that it is satisfied you should be pretty flexible.

I would lay off all three, and then unfortunately three super-flexible jobs gone. 

That allows the flexibility in case they don't manage in the areas you prefer to buy.And the last option being renovation, some call it Turn key.  

It is possible to find a "flexible" lender but lenders are very regulated...even hard money lenders. 

The list goes on and on.Be flexible and willing to modify your policies and processes if you learn of a better way or something isn't working.

I know these are all still possible in STR, but I like the flexibility of simply not renting it when I don't want to deal with rents.

With the variables associated with a rehab, it seems that could give you more flexibility.

(single, and hat-hanging flexible with a somewhat minimalist lifestyle)I've been a landlord since the '99, and would rather streamline my properties at this point than acquire a new rental, especially considering the high cost of residential property in my area compared to the relatively low rental rates these days - roughly 5% ROI factoring in a month of vacancy per year, but not accounting for appreciation/depreciation of the property itself.