@Dave SaveriWhen my tenant text me that they plan to move out I text back and ask for an email stating their specific move out date, “for my official records”.

If they email me with their intention to leave on x date, do I (as the landlord) still need to provide official 30 day written notice too?

lol, @Debbie LeeI personally don't need a guru warning...I guess what I was trying to suggest is that even though these meetings will sometimes have national Gurus selling their programs (we haven't bought any guru programs since we are not impulse buyers and a little bit of smartphone research usually tells us whatever they are selling is not as easy as they pitch it to be), I do get value out of the meetings by other content that is presented such as discussion of State of Illinois senate and house bills landlords need to lobby against or be aware of, and some local people I meet who are already successfully RE investing.

I don't do MTRs, but I've always been interested in them--there seem to be a lot of advantages (higher cashflow than LTRs, but much less of a time investment than STRs, and sometimes very high-grade tenants like traveling nurses).As others have mentioned, you'll want to do some market analyses for your neighborhood...I'm not 100% sure, but I think that in Salt Lake City, STRs are illegal (but, that doesn't stop people from having STRs--as you can see if you look up SLC on the airbnb map)...I've heard that although there's a law against STRs, there's also another (rather weird) law that prevents police /municipality personnel, or other public officials from searching for STRs-- which would make it pretty difficult for them to enforce any laws against STRs...but again, I'm not 100% sure about all that; you'll want to do your own research on the topic.Other things to consider: is the unit you're building in your basement permitted? 

Some officials are pretty strict.

However JP judges are elected officials not bound by precedent and many will allow back rent to be paid even on the day of the proceeding.

Is the granny flat a legal unit (an official ADU)?  

Most voters (with the help of hotel lobby) will choose to restrict STR rentals especially if it’s not your primary residence.

The NIMBY California lobby has restricted development for years so demand has far outstripped growth.  

We primarily do fix-and-flips, and have had a good run of deals in the last 4 months once we opened our doors officially.