Additionally you can do a cost segregation study and get a lot of depreciation benefits to offset the rental income (and potentially other income).  

All kidding aside, I do believe you have the general sketch of a marketable SECURITY.  

The decision to do a cost seg generally comes down to whether or not you can actually benefit currently from the additional depreciation.

Additionally, the STR market is quite oversaturated right now as well

It is our goal to deliver all of this in the RTR Academy along with a plethora of benefits to students to include:-VIP access to RTR inventory before the general public-ability to earn back course fees through investing & our attractive referral program-tax, legal & investing advice from our team of attorney, CPAs & investment advisors-no cost SDIRA or solo 401(k) account to invest through retirement vehicles -lifetime membership with no ongoing or additional fees, etc.!

My biggest concern is managing additional units and tenants.

In addition to interest and repairs, you can deduct off a 27 year depreciation on the home. 

Additionally, Building a trustworthy local team will make the process much smoother.

JobsOhio projects that, indirectly, approximately 4,500 additional jobs will be created by 2035, further amplifying this effect.Implications for Real Estate DemandThe substantial increase in the workforce will drive demand for both rental and owner-occupied housing.

If you've got a family/kids then you'll need more space.