Turning Primary Residence Into MTR vs. LTR

[Jacob Joye]

Hey everyone, 

My wife and I currently live in a beautiful 3 bed 3 bath 1800 sq feet recently renovated home in Troy, MI and are looking to move out and treat it as our first rental property. We are debating whether to make it a MTR vs LTR as I have seen in research that MTRs have possibility to be more profitable and we live 5 minutes away from a 600 bed level 2 hospital, 15 minutes from a level 3 hospital, and 22 minutes from a 1000 bed level 1 hospital.

Does anyone have general or specific recommendations? Anyone with experience here locally in Michigan with MTRs and the pros/cons versus finding a more traditional 2-3 year long term tenant?

Thanks,