BP, I’m trying to understand the Providence, RI market, specifically focusing on the supply and demand drivers of the multifamily market.

I am interested in purchasing a 3-4 BR home in Loma Linda (close to the University and hospital) and renting out the individual rooms to students and professionals of LLU.I know currently the market is not great but I was wondering:- How is the demand for housing among students / professionals?

SSM still has steady demand growth as there is increase in people moving in.  

I currently short term rent it; however, since the short term rental market is flooded and demand has gone down it seems, my strategy is to turn it into a long term rental to ensure cash is flowing.

You can take some risk and get an easy 10% (buy a rental off the MLS)... or you can invest some time and inherit more risk (buy directly from sellers or distressed properties with unknown issues) and get even higher.What are you comfortable with?

A seller CAN offer $ to pay a buyer's agent...it just can't be shown on the MLS.

If you're looking for a software I know that Propstream is a popular option that pulls records from public sources that you can filter for sellers who might be motivated. 

Location & Demand: Prime neighborhood with high tenant demand, no more than 2 weeks vacancy over 10 years.Strategic Positioning: Rented/sold at market's lower end with a 8-10% annual cap rate.

My parents have seller financed a free and clear property they operated as a fine dining restaurant in late 1990s, then transferred as a neighborhood bar.