I'm finishing up an ADU garage conversion in Downtown Sac and plan to do medium term rental for travel nurses.

If your goal is to scale, I would suggest running your numbers with property management costs included from the start.Also, if you plan on adding more properties soon, I would avoid anything that needs too much renovation upfront.

There are many service companies that will manage seller finance notes including the payments, escrow accounts, and documentation. 

Is it right that short term rentals are considered as licensing the property for use (similar to a hotel) and not a lease for a long term rental and therefore do not require a brokerage license to provide management services that include price adjustments? 

Perhaps when you get finished it is something I can help you set up! 

FICO is 780+ and currently have 4 other investment properties including 2 STRs in the same market we are trying to close on in West Virginia.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

We can also include rehab financing, if there is any value add opportunities with this deal you have on the table. 

Once renovations are complete, carefully screen tenants, set clear house rules, and consider furnishing the units with utilities included to attract reliable renters.

of those I like next door best because it is hard to fake and the reviews are easily tied to a reviewer in your community.The costs of ADUs vary significantly for various reasons including by ground up vs conversion, difficulty with lot (sloes, access, etc), finishes, and even the size (bigger typically have lower PSF).Good luck