Renting to tenants by room?

[David Bellenoit]

I'm considering an investment property (Providence RI area).  All the numbers seem good, but something I've not encountered before:  they advertise and rent each apartment by the room.  So instead of a 3-family having three tenants under lease, each bedroom is leased out to an individual.  Apartments are nicely furnished (except bedrooms of course), and landlord replaces the toaster if it breaks, for instance.  

It seems appealing (more stable rental income, more profitable margins, etc.)  but I've only had experience renting out mulit-family's by the entire unit.

Has anyone had success or failure with the 'rent-by-room' biz model?  Good/bad/ugly?

Thanks in advance.  I'm a new member here (MA, RI, CT investor) and LOVE this biggerpockets thing!   Be well, have fun!

Dave