Sometimes you convert an active unit into an office for your employees or convert an active unit into a model unit to show prospective tenants.Delinquency = amount of income that tenants owe because they are behind on rents.

I am a full-time employee in Healthcare IT, paying off debt, one income household and a homeowner.

The challenge with something that small is that your fixed costs are not much different from a 200+ unit facility, but your gross income is soo much less.

Make a list of all the items I mentioned and ask them directly as many city employees only answer yes and no.

Sometimes I make good money on a deal, sometimes I don't make anything, every deal is different and I work with my clients as their partner, not their employee. 

is that gross rental income or net after expenses?

Now that you understand my dependable passive income process steps (location > tenant pool > property), I will list my "hard pass" items.My hard pass items fall into the following categories:Desirability to your target tenant poolTo attract your target tenant pool, the property must meet a minimum set of tenant pool specific requirements.Type: Condo, high rise, single-family, etc.Configuration: For example, 2,000SF, two bedrooms, three-car garage, large back yard, single-story, two stories, etc.Location: Where the target tenant pool wants to live.Rent range: Usually about 1/3 of the median gross monthly household income for your target tenant pool segment.Any property that does not conform to all 4 of the above is eliminated from further consideration.

My consensus was...PROS: Higher gross rent potential compared to renting out the entire house to 1 person/familyCONS: Higher turnover, establishing and enforcing house rules, managing drama between roommates, more people to chase down for rent collection

If you go the self-managing route (highly recommended to save 25-40% of gross revenues), below are important points to know about self-managing STRs:Research local regulations to figure out what you need to do to have a legal STRResearch properties near yours on Rabbu or Airbnb to figure out what amenities sell and what you can add to stand outHire a professional photographerImplement a pricing tool like Wheelhouse, Pricelabs, or Beyond Pricing.

. $600 per room is my best guess for that area, depending on the quality of the house of course, which is $2400 in gross rents.