I would like to convert the garage into a one bedroom and rent either to another long term tenant or mid term (30 day min for professors or traveling nurses). 

You will be within close proximity to the University and approximately 5 minutes driving distance from the main city area, which also includes the hospital (could be good maybe for a medium term rental if close enough for travel nurses). 

One a side note, my mother's cousin bought several properties for 70k or so in California in the 1970s, it was a big deal then.

That’s impressive and such a fun way to connect your passion for running with family life.It sounds like you’ve got a solid start with house hacking and traveling nurse rentals.

You can read this article to see more about asset recovery after death: https://apnews.com/article/medicaid-estate-recovery-nursing-...)

I would strongly suggest considering leaning into the niche of traveling nurses. 

Everyone and their mother is ready to do a flip with 100% OPM. 

You don't need amenities like short-term and the people looking for MTR has expanded from travel nurses to displaced homeowners, future buyers, just sold sellers, relatives coming into town, insurance companies, etc.

So, don't think you have to leave nursing in the rear view.

., which creates a great opportunity to leverage real estate for attracting travel nurses and other medical professionals.