Another thing to consider... that I am thinking of is perhaps some parents or owners would prefer their heirs to receive payments rather than a lumpsome of money to use it more responsibly.

You should do this in every room/every outlet.....now that you as the owner know about this deficiency you have to correct it (imagine a child gets electrocuted and the insurance finds out that you were discussing this on a forum?)

I should give some details of my situation for context: I'm 23 living with my parents around Boston. my W2 pays me about 80k, which while nice, isn't enough to afford investing in my area. 

The downstairs tenant feels there is only so much she can do to keep her autistic child quiet, and she states it is impossible to do so.

I'd also demand co-signers (parents, most likely), in case things go south you'll have someone with money who is collectible.2) There must be a plan for common area upkeep - kitchen and bathrooms get dirty fast.3) Competition around schools where I'm at is stiff.

Quote from @Chris Seveney: @Arshiya Taamiive been collecting a W2 for about 5 years now and my buddy for about 2 years, we have been at the same company the whole time, we dont have any expenses besides paying for our gas since we still live with our parents. 

Cater to guests that DON'T want to stay in a hotel.For instance - I have a STR where a family flew into town for a week because a child needed medical tests and possibly surgery. 

I like getting families in my properties because I feel like with young kids going to school parents are most likely wanting to stay with a landlord who fixes things on time and provides a safe living space to raise their kids also a lot of parents do not want to move their kids school districts.

I ram a single parent and recently lost my job and what money i do have is set aside for bills, i am however very passionate and driven with succeeding in this business.

On the other hand, some of the references say that the laws in some area allow some of the occupants to sleep in the living room, so it would be reasonable to think two adults in the BR and a child or two on the sofa (or crib or rollout) in the living room.