I purchased a house in 2021 and lived there for two years before converting it into a rental property.

I am considering converting the basement by installing an egress window, which would cost around $7,000, and adding wired smoke alarms.

HH properties (and often HH clients) are high resource utilization accounts for a PMC, so many PMCs won't take them on, or will only take them on with the understanding that the property will be converted to a single-lease property (we do still use this approach.) 

Tons of value.You mentioned the number of bathrooms to bedroom ratio isn't a huge factor in student decision on renting -- I have a SFR student rental with 4 beds and 2 baths and have the chance to convert/add 2 more bedrooms for a total of 6 beds and 2 baths with hopes to increase rent? 

-- You should get a HELOC on it for emergency purposes before converting to rental. -- Proceed CAUTIOUSLY as many will recommend using the HELOC for down payment on new primary home.

So these developers taking 2-4 units and converting them to SFH are just bringing the property into conforming status.

A single-family home can still be an investment with the option to convert it to a rental.

You’ll reverse engineer top-performing properties and get title & description recommendations, discover rare amenities in your market, & utilize competitor’s reviews to convert more guests.My expertise is in increasing visibility in search engines (and lead generation for law firms, roofing companies, etc) and not the AirBNB/VRBO algorithms.

I have worked in recovery, but currently am retired and have rentals I would like to possibly rent to Oxford house- or possibly convert into sober living if it makes sense financially.

You get rental increases and if Chick Fil a ever leaves the site you often have upside converting to absolute NNN leases with a new tenant closer to market rents.