Each lender looks/weighs different criteria differently - some place more weight on debt service, some on income, and some on appraised value. 

Has anyone done/explored this before and can shed light on the pros/cons?

I would love for someone to shed some light on this where it could be effective.

I have found a property where the main home is currently being rented and the previous owner has converted the shed (permitted as a shed) into a 2 bedroom one bath home/ADU.

Can you please shed some light on the opportunities related to Student Rentals from the growth of UC Merced.ThanksDhana

.$2/sqft - $2.50/sqft budget should be able to easily net you a click lock waterproof vinyl.Feel free to PM me if you like and I can help shed some light on a few options or make a few alternative recommendations for you.Cheers

To help navigate "where should I buy" I'm currently building an automated (API driven) database to continually score every county and MSA in the USA very 90D based on different weighted metrics of my choosing to best fit my investment criteria.

It is like weight lifting.

After scouring the forums and blog posts on BP, I see the same generic answers of, "Look for good economic growth indicators, areas with multiple industry, areas with good price to rent ratios..." but no one really gets down into the details of where to go to find such data or how they use the data to forecast in the future.In fact, I listened to DGs second guest appearance on the BP podcast hoping he would shed some light. 

With a premium AirDNA subscription it shows the comps that were used in their estimate so I drill down on those comps checking the finishes, photos, amenities, pricing, policies and the ones closest to the subject I weight more heavily in my own calculation.