Considering my first property - is my thinking here reasonable?

[Aaron W.]

I am likely to be gifted a very small SFH in a small city in a rural area, 2/1, 780 sqft with a large garage/outbuilding. Population is roughly 60,000 in a 10-mile radius with a similar community next to it, 30-minute drive away. The town has been slowly growing as the commercial center of the region for some years and is in construction on a sports-tourism complex and a casino-hotel.

I would finance the needed rehab with the equity, inspectors and contractors have already been through it for a prior offer and given the needed work a thumbs-up. The lot is in a new TIF district which is likely to see some considerable reinvestment in the next 10-20 years and steer the city's (slow, but real) growth through the neighborhood. I also have personal interest in visiting the area more often, so travel to inspect and manage the property suits me.

I anticipate this property will have a stronger resale value at some future time and that extracting cash from the rehab before sale makes sense. (The new kitchen and electrical will be far more up-to-date in 5, 10, or even 20 years than what is there now.) As a small LTR with above-average upgrades and an outbuilding for storage/workshop, I would anticipate a minimum rent of $800/mo. For STRs, occupancy is strong and I could see $120/night, but demand is very erratic during the off-season, I'm less confident in putting numbers on it. (AirDNA suggests revPAR of $66, but the data set is extremely limited.) 

So I'm interested in MTR as a possible sweet-spot to minimize turnover and seasonal slowdowns. The property is walkable to a hospital, 2 and 5 miles from two others, and 15 miles from the region's level 2 trauma center. Job listings show steady and diverse demand for travel nurses in the region, and there are some other angles that might generate leads for furnished housing, including several small-medium light manufacturing employers within two miles of the property and a university in the neighboring city.

Aside from the AirBnbs - most of which are larger - the other options in the city itself are 2-star extended stay motels at $100/night that are in poor condition. Most of the (few) listings on FurnishedFinder are for more rural properties and are asking $1,500/mo, where this is one mile from a gym with a pool, a supermarket, and beauty shop, and very close to hiking, golf, and other recreation. It has a fenced-in yard and a quiet street. To my mind, it seems very desirable and convenient for traveling professionals, as well as large enough for remote workers visiting family in the area with a spouse. If needed, I would also be able to pull a vacation rental permit to help fill it as an STR in the summer months to take advantage of the steadier seasonal occupancy and higher rates on that front. Failing all of that, I would convert back to LTR and take a modest hit on the furnishings.

There's more investigation to do, but I thought I would run this by the board as I've learned a lot here over the last few years. Am I overlooking any major and obvious considerations?