I am a loan officer at Aslan Home Lending, and we deal with first time home buyers ALL THE TIME.

In terms of the building you are under contract on, is it brick or frame? 

Depends on your financial reserves, risk tolerance, and long-term investment strategy.

As an active investor I “work” a note or “create” high yielding investments of notes, and as a passive investor I invest in my note fund and syndications under the same terms offered our investors. 

Does anyone know if I am able to start an LLC and run short term rentals?

Bought it with hard money and then refinanced in a long term DSCR loan.

I am particularly interested in purchasing my first investment property as a short-term rental (STR).After analyzing recent data from AirDNA, I have identified several promising areas: Douglas, Saugatuck, Fennville, and I am also exploring opportunities around Stevensville and New Buffalo.I understand that regulations around STRs vary widely, and I've taken the time to study city maps to identify areas where they are still permitted.

We lent secured by a 20 unit mid term rental property.

I have a deal all signed to buy a home sub2 in Pueblo Colorado, but I realized the mortgage is a FHA loan.

You also need to talk about your terms.