My guess is this house has an issue with either condition or the split level aspect since $350K is a low price for a good-condition suburban duplex.

That was my biggest concern going in, but in retrospect, I should have been much more concerned with other aspects of the deal. 

My question is what underlying aspects of an early 1900s property should I take into consideration?

@Justine Phillipson: I've been researching turnkey options as a way to get my feet wet in other markets, get some experience with some positive cash flow, then dive into other aspects of investing that we enjoy. 

However, our current situation is a bit unique and has a human aspect we can't overlook.The potential tenants in question are in immediate need of housing, and we have the opportunity to provide them with a safe and comfortable place to live.

However, I want to know when should I give that aspect of the business.

Otherwise, the landlord could hire you to collect bookings, fire you, and keep all the money.I recommend you look at other aspects of your management contract.

You really want to surround yourself with experts on every aspect of STR investing from insurance to financing, REI analysis, tax strategy, growth and marketing plans, etc... people who are good at this have teams of specialists guiding them.  

But after further research I could do the same arbitrage lol, so cash-flow is not really problem for me right now.I think one good aspect of real estate is that because it's always in short-supply,so even the low-educated homeowner is almost always win and we don't need to be very advanced in financial/engineering like in equity investment. 

I will look further into these aspects to make sure we choose the right target market for us!