Mind you, you will have to spend money on repairs, so budget for that in your analysis.

I assume you're using BP analysis, and probably using inputs recommended by Brandon Turner in his analysis videos, which is all great stuff. 

So when I have to do a investment property for the bank and they want a rental analysis the only data available in mls is long term rentals and it can be a third of what short term brings easily. 

Do good analysis and due diligence before buying a property.

I've been digging into the following rental property and need a bit of help determining if it would be a good purchase. Unfortunately there are no internal photos and I haven't been inside yet. This is preliminary. I'...

BUT don't get stuck in the "analysis paralysis" trap - at some point, commit to making your move.You'll make mistakes along the way, but that's all part of it.

What's your best advice based on your analysis and experience?

This approach is dependent on zoning/code enforcement saying it's acceptable.As far as your numbers - apples to apples... if you do it as a MF, then your renovation costs are the MF costs, and the analysis is as a MF property..

Very few people ever get into the 'best' market on a purse analysis basis.

They are really just a quick and easy method of weeding out properties that would warrant any deeper analysis, nothing else.