You'll need advise from a local investor on what's legal and best in your market.

Unless there is some legal or mortgage rule against doing that, that I am unaware of? 

I know this is done all the time, but how is it legal without the seller being a Licensed Loan Originator?

Add to that short term rentals (less than 30 days) aren't even legal in Clark County. 

Does anyone have suggestions on the material I should study, or a simple guideline of things I should learn to make myself more appealing in this field.

But if the updated documents reflect the same data, the approval will be just as good, because the loan guidelines don't really change.  

Also, some of the information you'll find here may not be accurate (legal) in your state.

@Franco Bacco while that sounds like a good idea, I would caution you against doing anything against FHA guidelines that could even remotely get you into trouble.

Not sure what the other banks are doing but it sounds like their guidelines or overlays are really strong and prohibitive of doing certain kinds of business?

This is better than a Virtual Assistant because it is written by a lawyer, it takes me maybe 5 minutes to email him with the details, and when it's done it's a good looking, professional legal document that cost me nothing.