The target demographic for MTRs is traveling nurses.

As Kevin points out, traveling nurses make good money, and their employer pays for their housing.

It's a former adult care home, so the layout is shared bathrooms, and this would allow me to not have to change the plumbing layout while offering a competitive price-point and unique experience to travelers.

Traveling Mailbox is a great value. 

I highly recommend you travel to the market yourself and spend a couple days driving around, looking at various properties, if you are going to be buying anywhere.  

They said that they have access to external direct booking website and they charge higher commission rates if guests book direct vs VRBO platform. 

Another option if you are looking to rent rooms and there are hospitals in your area is to market to travelling nurses, using a website like https://www.furnishedfinder.com/  These are shorter term leases, usually about 3 months, and you are renting to professionals who are in an area for work.

I will also be tracking expenses related to repairs, maintenance, travel to and from NV, hotel stays, meals, gas, and other regular business costs.In the long term, I aim to purchase additional properties under the business name, but I understand I need to establish at least two years of income and credit history before doing so.The issue I’m encountering is that my accountant has not provided any guidance on how to structure this scenario.

For instance, there is currently a nursing shortage across the US, and traveling nurses help to alleviate it.

I myself have a 1/1 apartment on Davis Islands near the hospital that I'm considering renting to traveling nurses.The problem with rental arbitrage is that you need leverage as the renter to negotiate assignable lease terms with your landlord.