I'm looking to connect with like-minded investors in the Tri-County Michigan area who are focused on multifamily properties.

You also have PM, repairs, vacancy, and capex on rental property.

I would think that MTR is same rent as LTR if the property is unfurnished so definitely confirm your numbers there. 

If the property has a solid inspection and a healthy maintenance budget can be set aside, these older properties can be very profitable.

I'm finally ready to take the plunge into real estate investing and am super interested in the potential of short-term and mid-term rentals.I'm drawn to the idea of creating passie income .Right now, I'm trying to narrow down my market ( North carolina and Texas)and learn the ins and outs of STR property analysis.

It only applies to residents living in Jerome Village so for investors, it would only apply to rental income from Jerome Village properties, not your entire portfolio or out-of-state income.

The property needs to be rehabbed.

So, I decided to drive a nearby neighborhood close to my residence, recently and document addresses of seemingly vacant distressed properties.

When there's tenants already occupying the property, there's often times different leases that were signed among the tenants.Additionally, renting by room usually sees higher tenant turnover which in turn causes more work for the PM.Other challenges to consider:- Disputes/conflicts among tenants (different personalities if a tenant doesn't know the others prior)- Occupancy limits- Splitting utilities (what if someone uses more water?)

It's an investment into the property, and if/when they move out or even if they're there you can now add a traditional dryer to the property and collect additional rent.