New to REI and New Construction Home

[Brian Sullivan]

Hello All,

I'm new to this game and looking to make my first move into real estate. I apologize if this has been brought up before, but I couldn't find anything to tell me my idea was good or bad yet. I'm currently a military contractor that deploys overseas for half the year. I'm a Vet I've been looking to use my VA home loan to get a multi-family unit. Long story short, it's been a ride of looking, letters, outbids and zoning laws. Which leads me to my current idea. There's an old mobile home park that has been bought up and they are putting in brand new single-story "villas". I guess that's the zoning word to use in Pinellas County instead of duplexes. They're a two min drive to the beach and next to a state park on the intercoastal. I was going to buy one with a VA loan and the other with an investment loan. I would rent the investment one out long term and rent the one I live in on Airbnb as either a room or entire place rental. I have family close by for when I'm overseas to help manage the property when I'm gone. There won't be much profit in the long term rental and the one I live in for at least a year (VA loan) would only generate money from short term stay rentals on Airbnb. This makes sense to me as I can't be home for all the management needed and I know I can higher a management company, but that eats into profits. Does what I'm doing make financial sense in the long run as that's how all my investments are? Should I just keep waiting for an older multi-family to get listed that has the right amount of land so I can use my VA loan? I feel I need to just dive in as it's been 10 months of looking and bidding, but I don't want to waste my VA loan on a small investment. Thoughts anyone? I'm sure I left out details and there are more questions needing to be answered. Thank you to anyone who can help me have a warm fuzzy over this.

Respectfully,

Brian Sullivan