Mid-term lease sounds valuable but hesitant to use capital and effort to furnish it when we really don't know how well that will perform.

Financing fell through due to loss of job mid-transaction.

You might do well with mid-term (30 days - several months) if you targeted both the church orgs and traveling nurses, of which we have quite a few.

Secondly, purchase RV parks and convert them to mid and longterm renters while drastically trimming any resort type op ex costs.

If you are talking mid-term that is a different conversation.

Many small to even some mid sized investors don't need all those resources, so the question on if the fee is "worth it" will entirely be dependent on their situation. 

The end game would likely be to improve it and rent it out for a few years, possibly mid-term it to increase cash flow, and then sell before the 5 year balloon.

Addition of a bathroom w/o permit is slightly bigger deal in that then there is a discrepancy from actual to the tax records, that a lender might look into...but thats rare.The only real concern is a fine from the city/county if they find you mid construction doing the worl w/o permits.

I have researched some other mid term rentals in the area all around 3,000, which will cover my carrying costs. 

Dear BP family my wife and I are in the market to buy a SF rental property in the Bradenton, FL area and we have around $600k to spend, but we're trying to decide which direction to go - buy a SF house that can be a short-term / mid-term rental for the next several years until we temporarily move there (we're in KC, MO right now) or spend much less to buy a mobile home in a 55+ community and rent this until we move.