I used all of this time to intensely learn about real estate.

Notwithstanding the usual arguments about under-market family rentals, if I charge market rent does this operate for all intensive purposes as a standard rental?

.- "Cash for Keys" is usually a much better course of action (cheaper and less stressful and less time intensive than going through an eviction). 

I realize it can be labor intensive but I have to agree with other posts about physically visiting the property before a purchase is made.  

Mid-term rental being more labor and resource (furnishing) intensive, and reuqiring higher standards of care for the property, of course management costs more.

If you do not generate a lot of rentals of the unit as a whole then renting by the room is more labor intensive. 

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Now I do agree you still have to manage the manager but it is less intensive and as long as you have aligned interest it can work well.The problem is many residential PM people are not professionally trained and do it on the side while trying to sell houses etc.In commercial these PM firms are highly specialized and go through constant learning and improvement.

@Jake AndronicoHaha sharing a room like that is also intense, right on.

I left for law school in 2008 and the properties went trough a period of neglect I am still digging out from.After graduating, the learning curve was intense and I had little time to devote to managing my rentals and it is time for a change.