The house had good curb appeal, also the house was over 2000 square feet not even a block away from one of the hottest neighborhoods in city.

I say "yes", but they'll have to take a 'block' of units as I don't feel like leasing a single random unit in an apartment building to someone that'll be doing STR. 

She can go down the block or the the State Insurance Pool and get something back within a reasonable range.

If it's a straight rental you want to keep a single-family as a single-family because it won't be an easy conversion, especially in South FL, if there isn't any of that on the block and it also won't be cost-effective.

In my area most sell near downtown or the college at 6%, 5-10 blocks away and it rises to 7.5%.  

There probably aren’t any crazy laws prohibiting what you are trying to do, but your very first stumbling block (aside from liability exposure....especially with a garage renter) will be when you go to do your taxes the first year.  

As many, many contributors on this site and in the Indianapolis forum have said, Indy is a very "block-by-block" city.

I went into H&R Block yesterday and they said to just put the loan fees in as "legal fees" for a one time deduction. 

A very basic one with stone blocks or even sandbags.

I'm developing a software-as-a-service offering for real estate investors to find great locations -- down to the block level -- to invest in single family rentals.