But, I wonder if being an city-approved Airbnb host with a legit registration # is enough grounds to stand on legally if an Airbnb client reports/sues me because of, I don't know, a medical injury because of hitting their head on the short ceiling (even if I disclose info about the ceiling upfront on the listing).

For midterm bookings (1-3 months) we list on Furnished Finder and market the property in Facebook groups designed for travel medical professionals and landlords to connect. 

Do you have policies and procedures in place to nip problems in the bud? 

If you have any specific questions about this procedure, you can message me.

No one would tell a 1st year medical student to do surgery just so they don't have analysis paralysis, yet I see this everyday on real estate forums.  

Hi Joseph, You would need a 2 year seasoning period to qualify for a government loan (FHA) and a longer period for conventional unless you had a documented hardship situation, such as medical illness, etc where the loan can underwritten manually. 

I recommend you read some books about how to manage properties well, use a strong contract, know that contract inside/out, know your state law inside/out, build policies and procedures to catch and stop problems quickly, know how to screen and select good applicants, etc.An ounce of prevention is worth a pound of cure.

Not going to be a huge cash cow per bed, but with the amount of people moving here (looking for a quick cheap sublease till they find a place they really like), students, and temporary IT and medical workers I don't see myself having any problems filling the other two beds for at least $400/month.

Another thing to think about, Columbia has two major hospitals and some smaller medical facilities.

The plan is to maximize the space we have and rent as midterm rentals to medical and business professionals.