Many landlords love having an arbitrager using their property for the following reasons....So the home rents well, it's kept in perfect condition all the time.Professionally cleaned at least 4 times a month.So long as the property is over $150 a night, it's a proven fact that STR guests are much easier on the property the LTR tenants. 

Hi, I am new to real estate and interested in wholesaling leading to long term rentals in multi unit properties.

My partners are effectively passive investors.You should be thinking long term with your investors; we roll our profits over to the next flip.

I spent a long time trying to look this up in many different words of verbiage in my search and found zero info

5 years is a long time and once you are finished with your grad school and have a job, you can buy another place. 

Given our size and price point, we have never had a long booking lead time, so it’s tough to say our early summer is shaping up.

Sometimes, the contractor you found will not be as good as the contractor your PM has a long relationship with.

As long as you have an exit and do not get stuck with the penalties and interest if you do not pay it off in time, its not a bad idea.

@Stephen Rinaldi just curious, how long is the owner required to live in the property under these terms?

As long as your comfortable with your numbers and the sustainability of your cash flow there's nothing wrong with higher equity to get that cash flow.Or the other way with 2 smaller properties like @Peter Mckernan said.That's the beauty of the 1031.