Have a heart for wheelchair accessibility because we couldn't find anything short or mid term when moving family close. This suburb is considered "soft" STR at 35% but less than 20 minutes to three major local hospitals, and a much safer neighborhood/city than the one immediate to these facilities. This property already has a pool with a chair lift and several other accessibility features but would still need some additional modifications. Would be purchasing 20% below market value. The area is strong for LTR. Can a niche str succeed in an otherwise soft market, flanked by stronger ones that are 15-20 minutes away?
If you are doing this as an investment to make money I would not try to create a niche product. Could it work? Maybe but if the only draws are hospitals 20 minutes away that isn't especially promising in my opinion.
Essentially this would be a gamble - you are trying to outperform the current market data. Could it work? Sure. Could it flop and do the market average? Also sure.
It sounds like it could be a successful LTR - if there is a market for LTR that come furnished the risk to try STR first diminishes.
Thanks for taking time to reply. It's a total win for an LTR. Just know it would be the only single home ada STR with accessible pool in a 60+ mile radius.