@Gabe Christiansen I’ll shine some light on this thread for you, as I am a licensed mortgage lender. 3% down payment for conventional loans only apply to single family, full review condos, not limited review, or town homes, for first time homebuyers. 5% down payment for conventional loans, up to a 4-plex is attainable through Freddie Macs Conventional loan program called Home Possible, if and only if you fall within the income restrictions.

Flying in town is my top priority, once Covid restrictions ease up.

There can be many other restrictions.

I'm looking to avoid HOAs/deed restricted and want to be careful of town restrictions on short term AirBnBs.

There a bunch of addditional restrictions/burdens to properly using a LLC. 

Because of pent up demand the listings at booked or have been taken off market due to travel restrictions.

I looked into the units available over the last few days and it seems a bit too risky for a first purchase as it really restricts any possible exit strategies if the seasonal rental didn't work out.

For example, sales of homes worth $1 million and over are up 88.1% in the past year, as wealthy urban dwellers purchase properties elsewhere to escape pandemic-related restrictions and social unrest.

Or you may have a 3bed/1bath but the septic system is only capable of handling two people, so you would limit occupancy based on what the system can support, not the size of the home.However, you may be subject to state/local laws that are more/less restrictive. 

However, even if the Democrats decide to make this a legislative priority, I don’t see it happening before 2022, which the economy is still in COVID recoveryREAL ESTATEEviction Moratoriums: these will likely be extended – my guess is until Q2 or early Q3 – when the vaccine(s) are widely available and business starts returning to pre-COVID levels1031 exchanges: Biden has mentioned he will restrict these for people with > $400K income.