Also, if she's not employed, she still has to pass screening, including income.

You can terminate the current lease by mutual agreement and issue a brand-new one that includes the additional adult as long as the new person is fully screened (credit, background, income, rental history, employment, etc.).

Keep your expenses low.

@Austin Johnson I think turn key was easy when interest rates were super low and real estate investing was easy.

Anything that is low/no cost or that generally have high ROI? 

That said you may consider a Solo 401k to contribute 10x more than an IRA annually if there's self employment robust enough and no employees. $50k might be enough to do some PMLs but probably not for the IRA/401k to actually own real estate.

Anyone one else constantly getting "low" confidence when trying to use the rent estimator even though you're searching broadly AND in a populated/busy area? 

but for tens of millions of people with low rates, housing is very affordable.so I don't know that the 50-year mortgage would have a big impact.   

@David Lowe we actually provide property sourcing, renovations and management.Please DM me to set up a call...

The real change is tax characterization: a hotel-style operation is typically reported on Schedule C and can be subject to self-employment tax, while a true STR without substantial services is usually reported on Schedule E and is not subject to self-employment tax.