@Justin Harper, if there is an HOA, or restrictive covenant, preventing renting the property, then you could run into issues. 

I do not know if the loan requirements and restrictions vary state to state.

If you don't like paperwork or additional restrictions on how you operate then I would give it a second thought. 

(Wake had a restriction on off campus living and sought to maximize the amount of students living on campus, oftentimes room and board was more expensive than the cost of renting off campus).Look into the policies of the individual schools and try to find out what you need to rent to students in the area, that way you know what kind of process you'll need to deal with upon closing.

Once it becomes jumbo, your lender is going be way more restrictive.

Zoning has changed a lot since 1916, so once upon a time it may have been zoned multi, but with r1 that will restrict you to one ADU and one JADU.

In fact, in order to get the certificate of occupancy the property becomes deed restricted to reflect that.

The small business banker who initially set up the zero interest bank account for me said that he put restrictions on the account that won't allow for withdrawals on the funds sitting there.

If you're thinking STRs, then you may want to avoid Asheville city where they are restricted to homestays only (currently). 

I have looked on several properties in Boca Raton FL. only to find out that short term rentals are very much restricted in Boca by the town.so my question is as follow1. how could i know if a city or town will allow short term rental before i look to buy a property?