Guarenteed payments on the 1st, keeping up with market rates and mutual interest between the tenant and landlord to keep the property in good condition and to keep the tenant living there. 

If you are living in the home, you can do then renos over time.

We plan to have a property-manager and in 3+ years we will likely be living outside the US in Europe/Asia. 

We're not necessarily targeting LA (Venice in particular) as a market but as a place to live (the closest we can get to the Canaries regarding climate, walkability, etc).We're open to the whole country when it comes down to investing.

I live in Washington state and am looking for a good area for an STR.

I wanted a place to live, but I also wanted help with the mortgage so I have two renters that pay a total of $1400.

You're in a great field and you can save a ton of money by working and living at home. 

Presently they are only allowed if the owner lives full time at the same property.

I am here in Chicago, but actually lived and worked in new orleans for a while...be hyper-aware of who you are hiring, how much you are paying them, and what you are paying them for..

She wants to give me her house and move into a senior citizen home because she lives alone in her house in PA Philadelphia  and maintaining the house is to much for her.