Once you do this conversion you can't change it back to a traditional long-term rental. 

I've heard there's a good chance the mortgage company won't care as long as the payments continue to be made on time but I still want to protect myself just in case.

OO loan seems like real long shot. 

How long have you had rentals? 

I do generally agree with the sentiment of Austin and the other hosts that fundamentals will always win out in the long run, and this by nature is a long term industry, even the sales side I'm learning.  

This is a marathon and not a sprint, so look at it like that so that you can have a long and fruitful career.  

I have read the book on long distance investing and still am not too confident to get started.

What’s not working right now is traditional long-term rentals—high interest rates have crushed a lot of those deals.

What really matters is how long you think you will have this loan. 

I would like to find a way to generate additional income and am exploring options other than having a long-term roommate.