My thesis was that this would lead to increased investment in the surrounding neighborhood and home values would increase.

The logic here is that it’s far more difficult (and costlier) to evict a nonperforming tenant than it is to screen for a good one.Like @Greg Scott said, see if lowering your asking rent increases the number of applications you receive.

I will be increasing my savings amount to reflect as well.

If not feasible, consider increasing rent, reducing purchase price, incorporating future benefits, or targeting multifamily properties.

Allow a pets and I think you will have a great spot.Would adding that extra space/ spending that money be reflected in an appropriate increase in the property value too?

Based on the data I was seeing in Airbnb, I can tell that the property was well located because my views and favorites in the Airbnb were significantly higher than the other properties in the areas, especially after the number of reviews increased.

Increase supply (or at least encourage development), and the prices will eventually come down (as we've seen in other large cities like Austin where the demand boom was followed by a supply boom - and now both sale prices and rents have gone down). 

I would then pass that on to you in a rent increase of $100/month more/less.

.: Hello, I have been seeing increasing opportunities recently to bid on non performing notes on commercial properties that banks are trying to offload.These notes usually have the following characteristics:The note has reached maturity several months ago.

You want to rule out needing a variance unless this is a large property and the change would significantly increase the value of the property and/or rental income.