Also anyone know if you can list it on AirBNB as an experience not for overnight stays?

There are likely larger users out than than what I deal with, but at that SF at least in my world you are likely looking at multiple tenants, not sure if thats what you planned or not.additionally something else to consider is the cost of buildout on a med office space. depending if they are going to have x ray or not its not uncommon to see $500-$800K buildouts in my experience. 

I made a few thousand less than expected but I figure that's just the cost of doing business sometimes.Based on my experience I wouldn't let the remote possibility that a homeowner might go into greed mode dissuade you from doing these deals.

It is also worth noting that property management is often closer to 30% of gross rent for a short-term rental due to the much more intensive hands-on management compared to a typical 10% for long-term and as such, I agree with recommendations above that medium term rentals may provide the best of both worlds if you are able to tailor proximity to a local need, e.g. hospitals and travel nurses.Again, happy to relay my personal experiences in the area if you're interested.Best of luck,Patrick

When you specifically mentioned STR experience and the possibility of something with some added "personal value" bells started going off. 

I was wondering if anyone has any experience developing or owning something like this.

Partnering: If you're initially short on funds or experience, consider partnering with someone who has more experience or capital.

Most of the lenders I work with (provided you have experience and a credit score over 660) would do up to 85% of the purchase price and up to 100% of the rehab costs, provided this doesn't exceed 75% of the ARV.As for the idea of selling the land, great idea.

I have no personal experience with them but they are the only company I know of that are built more for self managers and small portfolios. 

Any advice on this and experience/tips from others having gone through similar deals would be greatly appreciated!