Better yet, accept the fact that there are always going to be the poor, and a good number of these people - especially in class-movable societies like the US - are going to be there because they aren't motivated enough to do anything further. 

You can find some diamonds in the rough don't get me wrong but if you aren't experienced enough to see red flags in the property/ transaction they can be costly. 4.

The problem is that most sellers aren't comfortable reviewing purchase and sale agreements.

Additionally, in the R-7 and R-8 Zoning Districts, you need a Conditional Use Ordinance from the City Council to authorize the conversion.

The owner can designate a host who shall be responsible, and authorized, to act on the owner's behalf to promptly remedy any violation of these standards or the permit.

Our goal is to bridge the gap between real estate investors and tax & financial advisors who truly get the nuances of REI.This tool is all about connecting folks like you with advisors who aren't just about managing investments or doing basic tax returns.

Finding a reliable contractor for the rehab portion and then a good property manager once it's rented seem to be the biggest issues for those who aren't local. 

Are there any challenges I might face, especially if my long-term tenants aren’t comfortable with the short-term rental activity in the same building?

They're prolific up north, yes, but here in the south, there just aren't that many.

The property manager can make or break you, it has to be a PM that is working in that space and is comfortable there.I agree with earlier comments to look in the front and back yards to see how many old cars, abandoned junk, or treasures that aren't treasures are piling up.