If you make sure your design fully meets all building codes for your target area you'll eliminate a big objection. 

They have a PM locator tool that will help you locate PM's in your target area.

Traveling professors and medical professionals would probably be my target avatars.I am biased though toward MTR as a strategy, and it's not without risk to spend a couple grand converting an empty LTR into an MTR, so consider all of your options carefully.

You need to know your target audience.

Hi everyone,I'm going to be building a portfolio in Kansas City and at the start, the properties will be multi family targeted at MTRs.Does anyone have recommendations for legal counsel / prep on contracting for those? 

Here’s our OPINION for the Metro Detroit market (use as a template for your target area!)

We allocated $33,000 to targeted renovations, modernizing the interiors and improving the overall curb appeal.

Here’s our OPINION for the Metro Detroit market (use as a template for your target area!)

Is it safe to assume that with rates much higher, that the target IRR is now in the mid to high teens?

It is very dependent on your place, location, and target guest, but I have built my properties' social following to almost 50,000 followers, with 65% direct bookings from that.