If you're targeting young professional no sense in looking in the burbs with good schools.You can always adjust and refine your search as you go but if you try to do everything at once you will have to much noise and it'll be hard to evaluate the deals for what they are on apples to appear basis.

Was thinking of using r.a.p, Someone told me that asphalt grindings are better but they are more than double in cost.

I did end up renting him a room with an owner-occupant-student because I liked his rules concerning no alcohol, no drugs, no noise, no overnight guests, males only, etc.

Noise? 

They typically have daytime hours and are secure, so I don't think people are going to be making excess noise in the facility during the middle of the night. 

It helps keep the noise level under control. 

Municipalities have started banning STRs across the Country due to neighbor complaints about tenant turnover, noise, etc.Since you're looking at covering a large area, get good at finding and coordinating service companies to meet the needs of a hospitality business: cleaning, supplying, maintenance, etc.My $0.02 ...

May take a little digging but that may have the largest upside, especially if you find someone willing to grind!

Is it better to grind out all the caulk, repoint and seal it or just apply a thin coat of surface bonding cement to the entire chimney and seal it twice with a drylock masonry sealer?

I appreciate you want to grind on the numbers, but for small MFRs, your tool would make me have analysis paralysis.