Renting by the room is going to be a lot more work for the ordinary PM. 

A Traditional IRA will convert what should have been an optional gain taxed at cap gains rates into a mandatory tax at ordinary income tax rates. 

What if the primary bedroom has its own door to the patio?

For example, if you do more than one flip a year then you’re likely paying ordinary gains taxes of 50%.

Is there a driveway/patio/other solid surface near your house that would drain water toward the house?

Inspect the property to determine what is causing these problems and document what the tenant is doing to cause them.Your lease should include a statement that the tenant is responsible for ordinary pest control.

When they are emptied, what otherwise would have been a capital gain will become ordinary income. 

The tenant is supposed to return the property in the same condition as received, minus ordinary wear and tear.

Ideally you don't want it backing onto a rear neighbor and if you can get a home with a covered patio area along with the pool, guests love that.  

Remember also that the interest on the loan is taxed at ordinary income rates.So for example lets say you have 100k and were making 8% in the markets - 8k per year and say you are in top bracket, you will pay $1600 in taxes per year or netting 6400.Now lets say you did a loan and were at 5% you are earning $5k per year (actually less because principal is being paid down and some of money goes into essentially a 0% checking account).