I'm closing shortly on a $2M ground up new construction co-living concept (Class A), where the tenant base will be all on MTR leases from 30 days to 180 days+, targeting the demographics that you mentioned above. 

I started keeping two months security deposit instead of last months rent so we are better protected from from damages or unpaid rent in case a tenant trashes the place during their first year and the cost exceeds one months wort of rent.

I just skimmed a short summary on 721 + 1031 deals.  

Next house was a probate that took 6 months to close : used bank financing and turned that $25,000 to $43,000 ... next we flipped a short sale.  

That's exactly what we did,  Follow state guide lines that we are not renewing.  

What's most important to you in the short and long term?  

If you're looking to pull all equity out it may not work, but could be an option to explore with a balloon payment and short term. 

He is a solid person and we are going to start working some deals together.

I trade mostly options and have shorted stocks but it's not my strength.

I feel the RV Park concept gives me the most flexibility for short-term, long-term, tinies, and under the C zoning the city allows also storage AND permanent structures.