My wife and I are under contract on a home we would like to turn into an MTR at some point close to downtown Mesa and the Mesa Arts Center, ~ 10 minutes from Banner Health.

In highly touristy areas like lakes or vacation spots, an STR typically generates higher income from short stays but may not attract long-term tenants due to seasonal demand.However, if the property is in a more versatile location, such as near schools, businesses, or urban centers, it may work as an LTR, providing steady income and fewer management demands. 

Hey James the prime area for ASU Tempe is a 0.5-mile radius from the center of campus and then the next tier is a 0.5-1 miles from campus.

One vacancy in a lower tier market, could take 1+ years to fill, compared to a prime retail location that has a tenant waiting list just hoping a vacancy appears at a center.

Would I invest in an in-fill strip center on a major retail corridor with signalized access and strong incomes?  

Generally, the further you go from a city's center—about 20+ miles—such properties become more common.

Banner Health, the largest hospital system in Arizona, just bought land in Laveen to build a hospital plus a retail developer is building a new shopping center/outdoor mall.

If you have the bandwidth to check out other markets and center on a few and then look for partners, I think that would make a ton of sense.

The outskirts work a bit better but my wife and her mom would like to be near city center.

However, given its design and commercial-like feel—originally built as a retreat center with a strong Japanese influence—I’m uncertain about the best market to target for a sale.I’m hoping that someone in this group might have connections or advice on how to approach selling a property like this.