As in any crowded market, the key is location and uniqueness.

This is still a very tricky area for lenders as there are not many "industry-standard" tried and true rules - many DSCR Lenders and buyers of these loans are still wary of the SRO model - that being said, it is a lot easier and more flexible to underwrite on an acquisition if you are buying and the property could be utilized as a LTR / MTR or STR as that allows for a more tailored projection (as long as the property doesn't have unique or altered characteristics that would require it to be a SRO / MTR)

But we've got a lot of acreage & a whole bunch of kids so we need to store a lot of toys......ATV's, dirt bikes etc...

I have a property now, but have a unique situation.

That's where big empty fields are that are not always maintained, and some unique dry conditions. 

Hey Elton, Detroit is a unique beast for sure!

Avoid urban cities and target vacation destinations/national parks.A lot of successful people are keeping their hot markets on the down low.I would focus on an area that has demand and has a good outlook for continuing to increase demand, and then try to find good deals in that market and trying to create something very unique.

I have a unique situation where investment in real estate might post challenges, primarily in the financing sphere. 

It offers a unique mix of growth potential and a conducive environment for investments to flourish.

Especially with a little bit of a unique/objectionable tenant use, I would never go at it on your own.