However, you should be aware that the lender may require you to sign a document stating it is your intention at the time of purchase to occupy the property for the next year. 

We have a 14-page management contract that we've added our real experiences to over the years, with the intent of protecting both us AND the landlord.

The original intent was to use it as a rental--still might--but I don't like concrete slabs.

Live in it the required time and buy another with a low fha loan.You can also rent out both sides if you have no intention of living there but you would have to put down a larger down payment.You will learn some of the ropes about owning rental property before jumping into the STR game.

We have a 14-page management contract that we've added our real experiences to over the years, with the intent of protecting both us AND the landlord.

Is this your intent? 

We have a 14-page management contract that we've added our real experiences to over the years, with the intent of protecting both us AND the landlord.

It took a couple of months to get a letter of intent from the lender.

My intention is  to get some insight on the next steps of turning my condo into positive cashflow.

I know your intentions are good but you may need to consult with a SEC attorney.