It sounds like being an apartment investor would be a natural step up and compliment your single-family experience. 

It is inconceivable to me that a "203k consultant," as is termed the general contractor running the debauched scheme, would choose to become one without milking the program for every penny he could get out of it, and, by natural extension, the aforementioned schmuck.

Now, at the same time, any rental lasting longer than 31 days is NOT considered STR, so besides LTRs there are also options of executive rentals and things of that nature that are not year long leases, but still "short term" in the sense that they're only for a month or two.And to your last question, again from my understanding and someone else could also speak to this, a STR permit can be held in the name of an LLC (I believe).

@Jay Helms - Yes makes complete sense - I need to do a better job of finding a like minded group - I have had lukewarm results with partners i have chosen to date and my independent nature makes me scale back that effort. 

Again, given the nature of the neighborhood, that is pushing it on the high side. 3. 7 pads at a $1m valuation equates to $142k per pad.

Every home my family has owned has been a "fixer-upper" with instant equity so it seemed natural, and almost expected of me to do the same.

If payment is failing due to insuficient funds eventually in the natural course of life you will end up having to evict.

I didn't know it at the time, but I was a natural house hacker!

"(31) 'Mortgage loan' means a loan made to a natural person primarily for personal, family, or household use, primarily secured by a mortgage, deed of trust, or other security interest on residential real property ...

Not necessary if it's a house or duplex or something of that nature.