As mentioned you could move in for a year, you might save more than you could collect in rent. 

@Lucas Carl and @Paul Sandhu  Its worth mentioning that I'm looking to get our of my current W2 job of elementary librarian so I can work for myself, even if that means working for others. 

Do you believe, with what data is available, that interest rates are expected to fall substantially enough (within the next 365 days) that it would simply make sense to wait instead of jumping in with such loan products due to their current high rates/PPP's?

Forgot to mention, if you have your heart set on CDA, you can still get returns of a few hundred a month even on LTR.

In most of the places I mentioned, to replicate the housing I had in the past 5-10 years would cost about double in rent and more to purchase.

I don't mind learning how to do that myself, rather than waiting on a Wholesaler to bring it to me. 

"It is wise" -- Is it also legally required by the consumer protection laws you mentioned?

Okay, now reading over your lease agreement as I noted earlier and as you mentioned, it could be better but, there is one clause 'Noise/Waste' that could apply here, is the Tenant creating a nuiscance?

In addition to ensuring that the room is built to the proper load bearing capacity as @Mike Reynolds mentioned, you should also keep in mind that you need a second egress point, such as an egress window, for any habitable room especially if it is designed for sleeping purposes.

I am planning to visit the cities next week so if there are any meetups please let me know, would like to connect with investor friendly agents, investors, property managers and anyone who is active in the above mentioned real estate markets.Thank you and looking forward to connecting!