If I had a lot of extra time on my hands and have proven my business savviness, I would take a portion of the $500k (maybe $100k to $150k) to acquire a multifamily with a 25% down loan and manage the property myself - this is sort of how I got started.

My goal with real estate is to acquire enough rental properties to replace my full-time income with passive income.  

Hi everyoneI currently have a newly acquired HELOC and planning to use part of it to invest on a note.

The rates aren't absolutely awful for a niche product like the one you're seeking. 

HomeStyle is a great renovation product.

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Since then, a large portion of their business is essentially trading and re-trading the same product between buyers, with the occasional MF that comes onto the market due to inheritance or retirement. 

I assume the city would require on registered hosts (which is the minority) as a starting point for this proximity rule, so effectively this rule might encourage un-registered hosts to stay un-registered, which to me seems counter-productive to the City's overall goal of governing these rentals.

Cosign with my PML on a Freddie/Fannie Investment Loan Product (Fixed rate, 30 yr Am, Lower Rate, etc.).

Making connections in the same way I acquire my properties - long distance.