Seasonal renting or monthly?

[Megan Hadley]

I hello guys! I am new to this forum, and also to owning real estate. I’m currently planning to get started and I am considering several options for generating more income.

Important information about the location I live in is that it’s rural, population of around 15,000 and we have several popular lakes around us that people flock to in the summers.

I’m considering these options:

Mobile home/house to lease annually, generating monthly payments

Cabin/home near a lake location, with options of annual leases or smaller amounts of time during the summer

A large home with three floors, divide up and lease out 2-3 sections.

I’ve never done anything in real estate before, not even bought my own home at this point. However, I can pay up front in cash, and want to maximize my income. Advice?