Hi Levi - I'm also looking into OOS and heard about Tuscaloosa, AL being a good college town to invest in.

Any other recommended towns or locations?

I will say we are way out of town with just a small market close so it makes sense to have a fully loaded house.We only provide 2 small soaps and 2 shampoo bottles in each bathroom.

You can also try the travelling nurses route, a lot of them are looking for low cost housing when in town. 

A lot of out of town investors like to buy property over here due to the cash flow that they can receive.

In terms of STR it seems that in the really strong markets (Lisbon, Porto, old town Ericeira) it is difficult to get the AL licencing.

So I used to work for a basketball tournament that played in Washington IL every year and so I often visited that town plus Peoria.

I invest in military towns because they're usually lower barrier of entry and healthy economies.

So, consider the source when receiving advice from out of town contributors. 

Hey Santosh,As of right now you're extremely exposed regarding insurance and I'm going to assume legally as well.If the home isn't registered as a legal multi-family with the town that's something you'll have to correct ASAP and make sure the home is up to code.Insurance wise as soon as they find out what you're doing they'll cancel you as the risk has changed from a single family owner occupied home to a multi family owner occupied home.