Got a question for you experienced house hackers!

[Daniel Kevin Lara]

I am looking into a single family home as of rn. So my question is to all those experienced in this category is: 

1) do yall think ishould get a nice house with little to no work and just furnish it up real nice and rent it out by the room or airbnb it?

2) should iget a decent looking house with light/medium cosmetic work thats needed? Then rent it by the room or airbnb it?

3) or should iget a pretty run down house where iwould need to rehab alot of it but add value to it, rent it out, and eventually refinance it?

ihave some good money to fiddle with but iknow that just because ihave it doesn't mean ishould just take on such a project.

would really like everyone's opinion and advice.

location is Rochester, MN home of the mayo clinic.

im thinking to rent out to either traveling nurses that come here to study at mayo or to rent it out to patients who come to visit the clinic.

thanks in advance!

[Bryan Balducki]

@Daniel Kevin Lara as a house hacker myself, I tend to point people towards getting a nice property that needs little work so you can quickly rent out the rooms or Airbnb and cash flow. Getting a rundown property can be overwhelming starting off, especially if you don’t have great contractors already lined up. You could also get a property that needs some cosmetic upgrades in which you can complete in a month or less. I’d consider the amount of time it could take to renovate and the cash flow lost during that time. Getting a “turn key” property is less time/energy needed and you can focus the energy on renting out the rooms/setting up your Airbnb. Just my thoughts, wish you the best!