I can watch the prospects to make sure they are treating my property with respect and I can see if they remembered to lock the door or.forgot to turn a light off etc.

The first step everyone needs to do, to get anywhere near accuracy in "what's next", is to THROW OUT that garbage thought pattern that the housing market is a light switch that operate in either "Red-Hot" or "Crash" modes.

Does anyone have experience with this that can shed some light on the pros and cons? 

Hopefully, your story shines light on this and helps even one person going forward. 

For example, a tenant calls and says “the lights are not turning on in the house.”  

I'm going to go for the $200k-$250k houses, light rehab, and rent (furnished and short-term [30 days]).

It seems like you lightly touch on your investing experience and interested MDs approach you after the presentation but what does the transition look like?  

While I would viscerally want to light a fire under the local gov't's collective ***(et)s, wouldn't pursuing legal action be pouring kerosene on a bridge between yourself and those that regulate you? 

With only a light film left on the tile and your grout lines tooled evenly, let it all dry over night.

If its a weird floor plan, consult a GC or engineer on what walls can come down, floors, landscaping, exterior paint, and then little things like light fixtures, cabinet hardware, and misc. small items can make a difference.