@Frank Klein his deal is actually in our backyard! 

Josh, if that price range doesn't attract medical pros, is the tenant pool still O.K.?

If you have a $100k house and do $$30k of improvements, that doesn't necessarily mean the house is now worth $130k.Many traditional homeowners spend money on their house, but add less value than the cost of improvements (e.g. adding a sauna, building a pool,...)

Here’s the vision: the idea is to put an Airstream travel trailer (a camper) in our backyard and rent it out on Airbnb during the Fall, Winter and Spring.

We are going to replace the ceiling fan and light fixtures, and spruce up the backyard landscaping. 

@Jean Marx- Always in your back yard.

The major employeer in the area moves , you lose your job and the tenant pool dries up .

-convenient access to highways, shopping, primary school right across the street-$700 total for HOA for building, includes water, sewer, community pool-Units rent for $650 each-Taxes/insurance total $400 monthly-Would go with section-8 tenants if possibleMy thoughts are: the house is a better appreciation play but CF will be lower. 4-plex will have better CF but unlikely to appreciate due to neighborhood and other units.

Many rental i've come across list things like "no pets, visitors must be approved with landlord etc" and don't have backyards or anything of the sort.

Remember that this is a fund (portfolio of properties) which means that your investment is in a pool of real estate, similar to a REIT, and your returns are a balance of all properties in the portfolio.