If your STR no longer qualifies as an STR and is now operated as an MTR/LTR - I'd say no problem.

Active investing - CREATE wealth through forced value increases, financial engineering, better operational efficiency. 

It would be good to understand what other think is a good net operating profit, cap rate, and ROI in today's world which I'm sure can vary by market. 

You need to let the tenant know this and that an eviction can affect their standing with the housing program.Since you did not know this basic thing, I would really recommend getting a property manager and watching how they manage until you have a better sense of how to operate.

I operate in a few markets and two of them are Philadelphia, PA and Reston, VA.

Properties that are operated by a management company are also out.

It can still work in niche situations but I think it is a grind and you gamble time and money. 

For STRs in Indy, having a solid property management company or co-host is key to maximizing your rental income and keeping operations smooth.

The business and real estate value are packaged in the deal, and the crux is that the current owner is the operator who has mismanaged, and is looking to retire.

MTRs can be operated by working directly with businesses, that's my strategy.