Advice on next step

[Jameson Dixon]

Hello! I bought a house in Tinley Park in 2021. Current mortgage is 1748. Interest rate is 3%. I have renovated most of it  (new hardwood floors, removed walls, paint, new banisters, furnace, roof, HVAC, cabinets, appliances) with some minor things to still do. I’ve lived in the last year and now I’m ready to live elsewhere. 

My goal has always been to reduce my living expenses. Not to get rich or replace my income with real estate. Literally cutting my living expenses to 0 is the goal. I currently live with my brother and he pays rent (725). Now I’m at the stage where I’d like to:

A) Rent it out. Mortgage is 1,748. Based on the numbers I could probably rent for 2450. Based on my research, I know to add on capex, vacancy, etc. I don’t anticipate any major repairs in the near future as the big stuff is new with warranties.

B) Airbnb. This was my original plan. I’ve been looking at the airdna data to pinpoint how much I could rent per night. It’s giving about 190 per night. I have a commercial cleaning business, so I can easily assign a cleaner so not worried about clean between visits. I dont expect this to be passive, I’m fine with being involved as I really like hospitality and providing great experiences. 

C) Sell. It just crossed my mind the other day this is an option. I’d just move back to the city. I miss living by the lake. 

I thought about getting a multi family, but the cash reserves required are somewhat limiting atm. I also thought about buying a small condo (under 125k) to live in while renting. I haven’t thought much how using a heloc in any capacity as I’m thinking the value has increased with the upgrades.

Really looking for some advice on what might make the most sense given my goals (reducing living expenses to 0 + paying down debt this year and next).

Thanks!