While we are very selective in our screening process, we have been able to maintain very low vacancy rates. 

It is not required, but you will have to be able to segregate for taxes.Many states also require that a separate bank account be used for the security deposits.Read your tenant-landlord law, get educated, you need to confidently know your processes.

There will definitely be new laws, but so far it looks like they're going to make it slightly easier in areas where it is not currently (rezoning as mentioned), they may even promote the process in some way, and there may actually be a housing regulatory overhaul in general that will affect all rentals (long and short-term (though that is quite a ways off)).As with long-term rentals, there are plenty of "slumlords" on the Airbnb side.

Please continue to use us as a soundboard as you narrow your thought process and get closer to your decision.  

I've never gone through the private lending process before and the contract feels very burdensome.Could I ask one of my fellow BP members to take a look at the agreement and let me know if there's anything weird or that you wouldn't be comfortable with signing? 

Is there any differences from a single family home or is this the same process?

This could be a long process but I'm gonna spear head it.

Example someone calls me on a deal they are into mid process.

Im just in the process of comparing the advantages and disadvantages of an FHA vs 30yr fixed mortgage.

Not trying to get into any debates about their position in the industry but its encouraging seeing your successes managing the process on your own.