Make sure on the second home to.1 - Good neighborhood. 2- Three bedrooms, Two bathrooms  or larger. 3- Possible chance to ad on a extra room,,@ where patio is, or back of house?

Also, you may sign a lease quickly, meaning there is room for a rent increase on the next lease! 

I can see some families wanting to use the open loft space as additional entertainment room, or using it as study/office space. 1 shared bathroom upstairs would be shared by 4 bedrooms (instead of 3 currently) - is that somehow less desirable and/or not add a lot of equity? 

Frame and finish a L shaped wall in the current recreation room wall approx 7' long x ~18" deep.B.Remove door to "office" and open wall to frame out closet, or just close off.C.Remove wall separating bedroom and office (wall is ~7.9 long)D, F, G Close off 3 interior doorsE.

But yeah, you lose a lot of usable space inside; most of the ones I saw had essentially a kitchen/living/dining combo downstairs and a loft with 1 or 2 bedrooms upstairs.

-How is this any different than simply leasing out individual rooms, or a guest house in a single family home? 

Here in Utah, I often recommend to my single friends buying a new townhome (we have some awesome new build incentives) and renting by the room. 

Without knowing how many bedrooms & bathrooms, who your target guest is and what your strategy is (rent-by-room, entire place, etc) it's impossible to answer.

Doesn't mean you can't rent out rooms  You'd put a smaller down payment down, but that means you'd have to qualify for a larger loan (ie 95% vs 80%) and have to pay mortgage insurance.

Airbnb SuperHost and VRBO Premier Partner.The house is a 2 bed, 2 full bath, great room, 1400sqft. in Eugene OR.Curious: why the difference?