We waited 7 months for the bank to make a decision on the short sale, and once the bank came back with an acceptance counter-offer, our buyer bailed, even after multiple times of telling him this was a really good deal!

My profile is a 700-credit score, $200k W-2 salary and $5,500 in monthly rental income and limited cash. 

Each room has its own exterior entrance from the breezeway.The current owners have operated it as a bed & breakfast the last 12 years, with breakfast served in the main house which is also their primary residence.By my analysis, revenue from the 5 rooms could cover the debt service and operations of the whole property.  

I'd do regular inspections (3-6 months) to keep an eye on things. 

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My unit's lease started mid-month so I turned on collection for the pro-rated rent (which would've come out to $835 for the remainder of the start month) and security deposit.

There are services out there that will install their own private sub-meter, but you would need to make sure the water supply runs are truly separate. 

I posted an ad for rent and the first 2 calls are from businesses who provide care home or assisted living servicing.

Then refinanced into conventional after rehab at 6 months.