If anyone has experience or knowledge in this area and is willing to share, I would greatly appreciate it.Looking forward to connecting with you all and learning from this community! 

One property is about 3 acres that my main house is on and the other is just land with a well on it and it's about 2 acres.

In some submarkets, properties are moving very well and there is appreciation even in that price range.

It's not unusual to see 3/1 and 4/1 Section 8 properties but that single bathroom would not do well as an MTR.Overall, I'd say location and the shape of the property is going to be your key driver and the factors that will make or break you in the MTR space so very carefully evaluate both before you make your decision. 

BiggerPockets has a section just for this, Under the BUILD YOUR TEAM tab- then select- MEET UPhttps://www.biggerpockets.com/forums/521Best of luck to you!

BTW, Nathan you have been very helpful to me in the past as well...

With a syndication (single property), you can invest in the debt on a property as well.

@Bruce Woodruff Well, I definitely cannot do the rehab myself!

I would guess many private party deals between people who know each other well may not bother with deposits.

Definitely an interesting idea, but I think you have to either have some property management who has experience / knowledge with managing properties like this or some personal knowledge / experience running these types of properties.I also think there is good opportunities around college campuses like Kent State, Toledo, Baldwin Wallace and rent out per room to college students.