The unfortunate reality is that us “mom and pops” can be devastated financially by the cost just to defend ourselves versus a complaint from HUD who has an unlimited budget 

I applaud your desire to explore U.S. real estate as a vehicle for financial success.

Last night after a long day of work and trying to buy a couple Christmas gifts for the kids (I am so behind) I got emailing/texting my property manager about an idea to leverage some staging I did at my apartments into a full on furnished corporate rental option....simultaneously I was emailing back and forth with my contractor about our rehab project....while simultaneously updating my website, tracking invoices, preparing financials for my CPA....and eventually at 12:30am I threw in the towel on getting up at 5am to get my run in (also training for my 23rd marathon).  

Especially if it's hard moneyif it's a heloc or private money and your financials are strong enough to hold both notes, they may not care to do either and just cut you a check. seasoning is common and differs by loan product and the bank overlay (meaning the bank may be more strict even if the product says 6 month seasoning and require you to wait 12)delayed finance is a bit tricky because it generally requires a lender who knows the program well.

@Brock Norton, I assume you mean "mortgage broker," who works with several financial institutions (including banks) to get you a loan that best fits your needs, hopefully at the best price to you.A "bank" is required to be licensed to do business, which typically means taking deposits and making loans (among other things). 

As an insurance agent the liability is extremely high and I can't imagine finding any policies that would make it financially feasible.Local municipalities also have regulations regarding short term rentals so that could be another hurdle depending on your city/state/HOA/etc. 

But it was a financial gamechanger for me. 

"owning the property free of debt" is opposite of investing, so if your goal is to invest, makes  lots of money, grow your portfolio, and be able to live with financial freedom, I encourage you that you leave as little equity in all of your investment property as possible.  

So recently I created a Financial Analysis template that would automate my decision making process, generate marketable Pro Forma Financial Statements (Still somewhat of a work in progress).

I just received the financials.