I don't think it is a desirable house to rent out because it has high HOA fees and a swimming pool (which I don't wish to maintain).3.

There is also an FHA 203k loan which you could use to do renovations but you may need to look for slightly less desirable properties in the hot areas ones that have been sitting for quite sometime.

With attention to Saj comment you would think it’s not a desirable place to live but for the past 5 years Portsmouth NH has been rated the best place to live country wide.http://www.nationalgeographic.com/travel/digital-nomad/new-hampshire/portsmouth-united-states-greatest-small-town/

Is there a specific reason you no longer find the property desireable?  

I focus on multi-family properties because that's what I have a desire to invest in, but I'm not in a position to buy as of yet.

Jonathan Twombly Cash flow is definitely my most desired goal to achieve.

We found a home that suited our needs and desires.

You can take surface roads or bike to Oak Park pretty easily from Logan or Avondale if desired.

I just read "NOLO Every Landlord's Legal guide".I'm confused with this scenario:Let's say the Property is located in a very desirable location in California, very easy to find tenants.Tenant [T] : has 750 credit score, she has clean records.1-month later, [T] want his new boyfriend [B] to stay as her roommate (also to save money on her rent).As landlord, is it really important to add [B] on the lease as co-tenant?.

But David Elefant I honestly believe, having been a student tenant throughout undergrad and law school, that you must define the tenant profile you desire within the overall student housing market, if that's truly the strategy you want to employ.