I'd also suspect that as an owner-occupant, one might be able to skirt strict STR laws, and rent out a primary in an extremely in-demand market, especially in the near-term (think collecting huge fees seasonally around CU football games the next few years). 

They are a cheat code to building an all star investor focused team in any market.

See the map below for what zip codes I would initially be interested in.

Still cashflows a lot and uses debt responsibly to expand a little faster.I'm curious what you are looking at when doing a deal similar to this to make the right cash offer of not too little but also not too much when thinking strictly in terms of cashflow.

Hello Alyssa, Have you looked up your Air DNA rental income, you can project the income pretty easily, I don't know what zip code your property is in, but with Air DNA, for a 3/1 in 78203, you are looking at 51% occupancy, with $37,834 Projected annual revenue at 51% occupancy. 

There might be setbacks and other building codes that have to be adhered to.

We use their Smart Lockboxes so the box senses when in radius of the box and it is the showing time then sends out an unlock code.

My concern was small single person businesses are subject to robberies which occurred frequently in the area in the early 1980's.The building was built in 1890 and NYC established building codes in the 1920's, and someone owned it all the while passed and my dad offered to purchase it but was beaten to it by a flipper who got it for $23K, and he bought it from the flipper for $25K.

As one who got totally hammered in the GFC if I was not with my Banker of 30 years I would never have come through that in tact I would have been like many of my peers and had to reorganize ( code for file BK).

Big thanks to @Zach Lemaster and his team at renttoretirement for making this seemingly complicated process with strict timelines a very easy process to navigate so I did not have to end up paying capital gains tax!!