There is also the streamlined 203k loan where you don't need a consultant, and there are less regulations.

I have read the rent control regulation too many times.  

As the owner you will have the right to terminate a tenant of your choice unless your state regulations say otherwise.We use it here to remove tenants with rent below market.

You have some time (I think 90 days) after you buy the place to move in to still be compliant with FHA regulations. 

I have been sticking to looking at strictly SFH REOs because that is what I feel most comfortable with (aka have done the most research for), however I continue to get tempted into a possible townhome deal, or at least look closer into them.Is the major disadvantage dealing with association regulations?

I would head to an office supply store and buy blank sticker labels.

This is evident from the number of posts from landlords that have never bothered to read, let alone learn, their state landlord tenant regulations.

Did you study your state landlord tenant regulations before you decided to go into business.

Specifically with mailings, I would talk to your broker, let them know what you are looking to do and see what they suggest, they're the experts on advertising regulations ... and you may have signed something in your independent contractor agreement with the brokerage when it comes to advertising that will apply to no other agents on here except for those within your brokerage.

I do know San Diego is pretty strict against short term rentals so obviously look up what their regulations are.You mentioned a granny flat and splitting the house, so if you're going to be having some sort of shared walls it may be best to put that in your listing as I have seen some people get negative remarks by not mentioning that the house is shared with the owner or some other tenant.As well as lining up two to three excellent cleaning crews, the easiest way to ruin your profit is to start receiving negative reviews for cleanliness and or falsely advertising what your place really is.