the rents are 900-1200 for 1 bdrm and more for 2 bdrms... and HOA's start around 125/month and go up from there.I stay strict to 80% of property value to buy.

Mankato is a little more strict because of the college community.The only way to make a change is to go to your city council and hope their position has changed since the ordinance was implemented. 

I'm new to this and am considering investing in a space that is strictly for vacation rentals to build equity for my next purchase.

Currently the book I am reading is The Subtle Art of Not Giving A F*ck By Mark Manson and I am not primarily too focused on strictly sticking to real estate, although I do believe that it will be a big part of my future soon enough.

I suggest letting the tenants know this month's fees will be waived (due to change in method of payment) but moving forward late fees will be strictly enforced on the 5th if the money is not deposited by the 4th. 

Set up a strictly defined criteria and stick to it.

FHA has some strict guidelines, and you are limited to a maximum of owning 7 units total, including the subject property.

I find the latter would be the easiest path because most syndicators have their own relationships built, full time analysts and have strict criteria.  

I would like to get to 10 properties but I don't have a strict timeline.You are correct on the buy and hold.

After months of debate, decided I would focus strictly on wholesaling and buy & hold.