However, I will be moving into the property and doing a substantial renovation so can evict and reset rents to market.My concern is not the short term risk of rent control as I have ways around that (mentioned above).

Aloha,Lack of long term experience.

For a long-term hold that isn't a big deal.  

In real estate, you need to be thinking long term.

I am not familiar with New Port Richey as a city and it did not come up on any of my research as a target market ( I was thinking more in terms of Orlando/Jacksonville in FL).

As a notary or NSA, you CANNOT explain anything to them except a general description of a document or where to find things such as the rates, terms, etc because that would be considered illegally practicing law.

The “due on sale” clause, as its commonly referred to, is 2 paragraphs that are usually located in Fannie Mae and Freddie Mac “notes” (which is the specific form/instrument that outlines the terms of your mortgage).

We're open to other strategies i.e. short and medium term rentals. 

For refinances (cash out or rate term), the property would need to be leased out prior to closing, and we would take that into account with the underwriting.

What's the long-term plan?