Anywhere from East Falls to the far edges of Manayunk will give you an affordable place to live (and have fun) as a young professional and still be able to ride into work or take the train when the weather gets bad.

You are still allowed to reject that unauthorized roommate if you find criminal or other negative findings from the screening.If you decide to approve the new tenant, just draw up a new lease for a 1 year term (or your choice) with the new rent and make sure all roommates are included on the lease. easier that doing addendums for rent and roommates etc. and you get them to commit to a new 12 month lease so you dont risk move-outs in the middle of winter.

One thing to consider is that I don't believe it is technically legal to VRBO/AirBNB. http://kutv.com/news/get-gephardt/air-bnb-rentals-...I did have a friend who used his house as a winter ski rental and seemed to have good success with it.

Sometimes it depends on the winter weather. 

Especially in Indianapolis in the fall heading into winter the MLS has listings all day long at great deals with great cashflow, using actual numbers and actual comps.  

You may face long vacancies, especially during the winters. 

In our experience, we have most of our student rentals leased in the winter before the next school year.Just like any rental, success is usually decided before the lessees moves in, choose good tenants.

I was hoping that the close was early enough in the season that the PM would be able to find renters before late fall or winter.

Look at the managers for both sectors; look at the amount of work that you will be doing- pick the option that allows you to learn as much as possible and develop your skills as a real estate professional (the job/manager that is fun might not be the best for you to grow). 

Its no big deal.Enjoy the experience and have fun.