- Votes |
Converting LTR to MTR: Exceeding 5 miles from Hospitals
I have several SFH rentals in the nicer area of Albuquerque. I have been considering converting them to MTR. Generally, I'm reading that MTR should be within five miles of a hospital or two, as traveling nurses represent the largest swath of MTR renters. What do those of you with experience think? I'm 9 miles from the hospitals, albeit as straight shot on the interstate. I also have three and four bedroom LTRs. I also have three and four-bedroom SFHs and I'm reading one and two-bedroom condos/townhomes/SFHs are better. So I suppose I could convert one of my three-bedrooms to a combo STR/MTR, list it everywhere and see what happens or I could buy something near the hospitals and run the experiment there. Last question: Does it make sense to over-improve the MTR's? I have flipped many higher-end homes. It looks like it might be worth it to renovate small MTRs with all the bells and whistles. Thanks for advice!