Usually MTR comes fully furnished with utilities included, so you pay for the convenience.if the area has traveling nurses, other professionals that come for a few months for work they normally pay more, in certain cases the employer pays the rent not familiar with that particular market,  but worth looking into it.

With the exception of building a trailer on the property (these are hard to finance), this sounds like a good plan AND if you are using it for your business AND your business pays more than 50% of the rent (if you have more than 1 tenant), then this is a more financeable property in the eyes of banks and credit unions as it would be consider a commercial "owner-occupied" property. 

To pay for this, I used a heloc on my current home.

Or does it have to based off a straight paying tenant?

Go to court, judge will hear them out and then ask; "did you pay the rent."

My experience in Massachusetts, where it took nearly a year to evict a non-paying tenant, has made me more selective about the locations I invest in.I am looking forward to learning and sharing insights with this community! 

. - Minimum work history: 1 year (please provide references and pay stubs for the past 3 months; if self-employed we can discuss alternatives to paystubs)

Add that to about $25K tax for the depreciation recapture, that would be paying a total of $70K in tax if they do the 1031 exchange. 

Tenant is profusely sorry and stays in contact, but that does not pay the mortgage.

We pay Lightning Docs a $500 annual fee and $500 per loan, which we charge to our borrowers at closing.