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Updated over 3 years ago,
Broken Bow - 1BR, 2BR, or 3BR?
Hello BP'ers! We’ve narrowed our search for our 1st investment property to Broken Bow, OK. Initially we decided we were going to do a 3-4 BR rental (with my brother in law as a partner to help with the DP), but I’m wondering if it’s better to do a 1-2 BR and do it solo, if the net cash flow will be almost the same at a lower purchase price? Also we will be closer to the property (my bro in law lives in Austin) so most likely we will be managing it more than they are (therefore, we would rather take in 100% of the profits :-)).
Historically, do 1 BRs have better occupancy rates than 3BR at BB? What are the pros and cons of either one? THe only reason we were thinking of getting a 3BR is so we can use it with family. I would love your inputs!