As a local team lead focused on investment real estate, we often start by analyzing comparable properties and historical data to get a baseline for expenses.

Originally posted by @Dennis M.

Each bedroom is rented out individually by the previous owner on a month to month lease.

Some of the best deals i have found was by doing a tour for a buyer and finding the opportunity when the buyer didnt want to pursue it.

By leveraging our experience and Seth's insights, we secured the property at a favorable price that allowed room for renovation and a profitable resale.

I agree and follow the same approach as @Thomas Williamson by only having them in the living room and master bedroom.Unless you have tons of properties, then I don't think you will have too many issues.

There would be the cashflow from the rental property, of course, but that would be largely mitigated by depreciating the property.

Mike,I am in Pinellas County, Florida and our area by Seminole, Treasure Island, Madiera Beach, Saint Petersburg/St.Pete Beach, Tierra Verde are all great LTR and STR spots. 

Does this approach go by some sort of moniker or buzzword that I can "google/tube" to learn further?

By leveraging our combined experience and market knowledge, we were able to secure the property for $390,000.