As far as strategy goes, long term rentals are extremely hard to cash flow right now and are more of a long term play on the appreciation side(never buy solely for that reason).

Would be nice to also have the ability to rent it out short term (AirBNB, etc) but this isn't totally necessary. 

The reason this is preferred is because your group-home rents will be much higher than the long-term market rent on a 1007 appraisal.Answer: Nearly all residential 1-4 unit DSCR loan programs will utilize the lesser of 1007 market rents and in-place rents.

I want to start with single family homes/long term rental, but also willing to try different strategies such as renting by the room/mid term. 

In my experience, the best rates and terms for home equity products are from credit unions.

That’s a new term for me

It sounds like it could result in some additional headaches and even lost rent during the inspection process, so it probably wouldn’t make sense for me unless there is an upside in terms of higher rent.

Buy what makes the most sense in terms of risk reward whether it be an 8-unit, SFH or something in between

Although I agree that Hsv has seen great appreciation in last 3-4 years and "deals" are hard to find, I think there is still a lot of room left for growth in terms of rent appreciation and price as well.

Bought some single family long term rentals and short term rentals.