Who knows if it will continue and at what rate; I feel the downside in the quality of the area is limited, but who nothing is a sure thing of course.With this said I am wondering what you guys can advise on buying such a property?

A possible downside is that although I didn't pay a tremendous amount to furnish the property, if I convert back to a LTR, is there any demand for furnished LTR's?  

Drive the surrounding blocks and note if (a lot) of the properties have window units.If so, it might be norm for the area.Also talk to 2 or 3 top selling Realtors (in that area) and get their take on the value add of central A/C and how common it is in that area.Not to say you can't be the only one offering a central Air unit in that area, just go in with enough information to make a reasonable decision.Window A/C comes in many different AMPS, if renter A brings too big of an amp draw for the circuit it must plug into he will blow fuses or breakers all the time.If you own the window units, you can have a dedicated circuit run that matches the AMP load of the A/C, in which case using a sleeve unit makes sense (they are a little different than window A/C), because it does not block the view, and you can mount it up high and let the cold air fall, or mount it down low out of the way.The downside to window and sleeve units is some renters will steal them and then claim to not have stolen them, so you have to ding their security deposit for it.And like @Bruce Woodruff said, there is the minisplit option.

The downside to the C Corp is you're paying tax twice, and even with the new lower C corp tax rate for 2018 for many people it's still MORE tax than it would be with an S corp with the new 20% pass through deduction. 

The only downside was that the purchase price of the property was not negotiable, which means you’re not getting a great deal to begin with.For the first 3 months the property has been performing as expected.

The downside tends to be that a depressed economy has lead to many buildings that have deteriorated, and renters that don't expect much (which shows in how some of them treat the properties).

Banks definitely offer the best rates, but the downside is spelled out exactly in your experience...deals fall through due to stringent and inflexible underwriting

You can pencil whip any property and make it work but you need to know the market, the supply and demand, the upside potential and downside potential and many other variables that cant be written on a forum or read in a book.

The downside is I do not have the REI network or experience you do, so my company is growing and meeting the rising demand for coliving but nothing like it could. 

@Harry Shmelts - The only downside is the additional monthly cost of borrowing the down payment assistance funds.