We have been blessed to serve a a ton of Bigger Pockets clients and the biggest challenge we have with house hackers is the FHA Self Sustainability test.. 75% of the overall rent has to cover the PITI.. with rates where they are this has been a big challenge. 

I have been running a lot of test cases but have not leapt on anything yet. 

getting a 96 and above on every single assignment and test was insanely hard, but I did it....This project will set my business up in ways that would take me 10-15 years....That makes this worth the risk

The ultimate test is what the market will bear.

I agree that's true but kind of a mute point imo... if you're concerned with the pex leaching chemicals then you should be concerned with the piping that city water travels in before reaching your pex lines and the quality of the city tap water in general.... as well as anything you drink that's bottled and any food that's bagged in plastic even those labelled as food safe which have been shown to leach chemicals.

Since you already have an STR license for the property, it may be worth it to at least try and test the waters with an STR bookings and see how it goes.

With systems and procedures in place that are time tested to welcome longer-term tenants and give investors a hands-free experience.The industry is maturing year over year with the backing of necessity.

There are 6 tests called the WhiteCo factors (named after a tax court case on the subject) designed to figure out the permanence of individual assets to see if they qualify for short life treatment.

Make sure you run a detailed financial analysis and always do a rental stress test to see how the numbers hold up under different scenarios.

The city has been working on implementing lead swab testing for rental properties, that is something to consider when purchasing properties built prior to 1978.