@Bruce Woodruff points out you can lose all your money and more. 

We see threads all the time about people losing money and how after they add expenses and vacancies, etc. how they go in the negative.

They may not be smoking inside.From the OP's post (emphasis mine):Thank you all for your feedback.

If the deal goes south and you have next to zero money in the deal, selling a short sale or walking isn't as risky for you since you aren't losing much.

The lender at that point can exercise the Due On Sale and it becomes a problem for the subto buyer, who now has to find new financing or lose the house to foreclosure.

., mobile homes often lose value over time unless they are situated on owned land) and tenant turnover.However, tax advantages include depreciation deductions, which allow you to offset rental income by writing off the property's value over time, and cost segregation, which accelerates certain deductions.

If you lose your source of primary income, do you have enough cash to make it through the crisis? 

Yes, you may lose out on income in the beginning when first trying STR out, but you'll never know until you try. 

You could lose months or years and still not resolve the problem or realize you cannot do what you wanted. 

How many tenants will you lose not because they didn't like the property but they didn't like your tenant selection.Remember my first point FLEXIBILITY, well if you decide to bail on the rent by the room, it is more unlikely that you can cashflow positive with a SFH than a duplex in Austin TX if you move out of the property.