Should I make my Long-Term 3/1 a Medium-Term rental instead??

[Matthijs Pol]

Hey everyone first of all thanks for always responding to my questions! Very helpful.

I have a Long-Term 3 bedroom 1 bath rental in Northaven just north of Memphis. It's a nice little neighborhood and the house is clean and has a decent size fenced backyard. At the moment I am in the middle of evicting my long-term renter because she hasn't paid in two months. I bought the house with the renter in it and that was my first mistake. The management company I use says the rent is way too high for the area, but after all expenses and savings, I was making $250 a month in profit. 

I have a condo in Memphis that I have as a Medium-Term rental and it does very well. So I wanted to make my 3/1 single family into a Medium-Term rental. It's about 16 minutes from the medical district in Memphis but I know Health professionals probably don't want to share a bathroom. I plan to focus more on insurance companies instead of Health Professionals. But anyone that wants to stay is fine with me haha. 

What are your thoughts on this? I don't want to fully furnish it and then not get it rented out. 

Thanks!