In either case, I'd be looking at markets with a growing population (demand), a shortage of inventory (supply), and a market that has a net positive importing of jobs with wage growth.As the Fed's a poised to make some moves with interest rates later this year, the question still remains to be seen what they will do with their QE/QT policy on their balance sheet as that will affect long term 1-4 unit rates. 

I need to have a conversation with the homeowner in person (preferable) or over the phone.  3. 

It has actually spurred a good bit of conversation from people that I work indirectly with, which is good for my RE business.

Check into their BBB rating and real reviews.

Their needs vary over time and the market interest rate varies.

Are there any foreseeable downsides to this conversion?

Ask yourself who makes the most profit and has the highest ratings on airbnb?

These are not actual numbers but just for illustration purposes - though look quite realistic for the market I am considering based on Zillow, FurnishedFinder and other sources.Vacancy rates for MTR are low due to an acute shortage of nurses. 

I don't mean to come here to constantly post negatively about the Detroit real estate market, but I'm learning a lot from these conversations.

She was interested in buying RE, mentioned it to everyone, and got lucky with a chance conversation at her local bank.