Near hospitals and medium sized colleges are a great place to look.

Of course, always check with local laws and ordinances first—I know that Nashville has very strict restrictions on short-term rentals, so be sure to look into any potential regulations for medium-term rentals—but otherwise, as long as you disclose the unit accurately, sure. 

Have you thought about turning your long term rental into a medium term?

(None/Light/Medium/Heavy/Full) None Bedrooms/Bathrooms 6/3 Crime Level (Low/Medium/High) Low Your Offer Price $ 365,000.00 Rehab Price/Square Foot (Refer to Key on Right) $ - Total Rehab Estimate $ - Total Cost (Purchase + Rehab) $ 365,000.00 MINIMUM Down Payment Required for Purchase $ 18,250.00 Conventional Loan Amount (Total - Down payment) $ 346,750.00 ...

@Mary Mitchell-Thank for the valuable input. 6% seems like a happy medium.

The Govt has had short to medium length shut downs recently in past years. 

I have hired a broker, contacted the planning department and have spoken with the owners of the medium sized outdoor strip mall of which my property is an out parcel.  2 contractors agree that it would cost around $350,000 to demise into five 1500 sf units. 

@Andrea Cole -  I only do stays for 30+ days and I’m part of a community of “medium-term” furnished rental hosts. 

Cleveland is great because there are a lot of "happy medium" neighborhoods that will give you a pretty good return with a pretty good tenant.

If you have a STR, trying to do medium term rentals (like corp housing or traveling professionals) at the exact same time can be a real problem.If you take a booking from a nurse for 3 months, it will be at a discounted rate and you will lose the STR market revenue for that time.