I would recommend mid term rentals or long term rentals for these.As far as the smaller single family there has been a massive influx in smaller SFR properties in and nearby these zip codes when it comes to the STR space over the last couple years.

There was a recent massive foreclosure on an apartment operator who hadn't properly mitigated interest rate risk on their debt.

But, if you've ever looked at something like the Facebook Memphis Real Estate Investors page you know that if they don't it will just be a massive string of wholesalers screaming about how much money they will make you. 

The calculation Jason mentioned will give you the fiscal year annual tax.  

I have a tenant that told me they have a dog but I just heard from a Neighboor that the dog is massive and constantly barks at all hours.

They are a feel good idea, that is not fiscally prudent.

We're wanting to do this "right" and were hoping to be able to learn from the massive amount of experience in this forum.

The catch is that the populations are all recent.. recent as in, massive booms in the last 40 years when suburbs ruled the development world, and density didn't necessarily increase except in the most urban and highly commercialized sections of the city (city centers primarily, which is mostly class-A prime real estate).

Obviously, Airbnb/STRs have taken a massive hit worldwide so we're looking for the flexibility to have a longer-term rental as well in this house hack.City of Richmond is in the process of deciding on updated STR regs soon (I think). 

Just do your basic due diligence on the area, and the HOA. 53K isn't a massive financial risk in the grand scheme of things.