Our idea is to convert part of the home to a Jr Adu and get rental income that will offset the expenses for dear dad and let dad live rent free.  

Many owners now trying to flip them to MTR, so now that market is also probably over saturated.If you are super creative and maybe have some great connections with demand generators....like you work in the HR department of a reginal hospital or are a transplant coordinator or maybe a placement/claims adjuster for an insurance company, there is probably hope. 

The city is having quite a few issues and as a transplanted native of 30+ years, when I go back to visit I'm shocked and saddened by the downturn the greatest city in the world has taken.Lastly, we can paper-project what our cash flow, appreciation, and interest rates will be, but all we can know is what's happening right now. 

Since they only require a minimum of 3.5% down it wouldn't eat up all my funds, which could be used elsewhere in other projects/rentals, and on top of that I could pretty much live rent free with even some positive cashflow.

It takes much longer to evict and while they live rent-free you get nothing. 

Some were Los Angeles transplants looking for cheap(er) rent and some were just blue collar Craigslist randoms. 

The latter is part of the former, but they're not interchangeable.I'd think about it as a furnished 3-month-plus type of stay, and there are a lot of people who want that type of stay -- remote workers, students, recent divorcees, new transplants, and yes, travel nurses.Some of midterm rentals in Denver and Colorado Springs are close to hospitals, some not.

Instead, they continue to string out the eviction process as long as possible to allow deadbeat tenants to live rent free as long as possible on the backs of struggling landlords.

I am a born and raised New Yorker for over 25 years who transplanted to DFW 12 years ago!

You can find a house today that will provide you a place to live. Rent