In the $3000/month range, you deserve a lot better than this.

Would the fact that our house is in the ~ $850k valuation range influence your advice? 

I invest in Pennsylvania where I find to be some opportunity there in terms of cash-flow particularly with multi-family within the $300,000 range and even lower. 

If the guidelines are clear before they sign the dotted line, there is a mutual respect, and a good vetting process is performed I think I can minimize tragedy.

My total expense ratio on each property I own ranges anywhere from 40%-50% annually, but I also self-manage and am not a slumlord (I am pro-active with maintenance, not reactive).

The average for the small unit is probably in the range of like $25-$50/month. 

@Marc Shin You need to provide the location of the property.Mechanics liens laws are state-specific with respect to contract and notice requirements, license status, dollar amount thresholds, and especially TIMING.

Maybe it's a small town and there are very few homes available to rent and there are several families that would rent there if there were available homes in their price range. 

You don't want the guests scrolling on Airbnb who see 2000 other decked out theme homes right next to yours listed in the $100-$200/nt range. 

Not sure what the returns are on a 6 bedroom for rents are but those would be your numbers.As far as new construction versus existing, I'm not seeing the gaps that big in any size range.