Multi-Family or Mid-term Rental?

[Max McQueen]

Hey BP Family, I'd love your insight on this.

I'm currently weighing two intriguing options: house-hacking a 4-plex or venturing into the realm of a mid-term rental with a single-family home or duplex, particularly for renting to travel nurses. While the former presents a classic investment opportunity, the latter has caught my eye for its unique and potentially lucrative approach.

As someone relatively new to this field, I'm aware that there might be aspects I haven't considered or opportunities I'm overlooking. Your insights, advice, and recommendations would be invaluable to me in this decision-making process.

Thanks!

[Max McQueen]

Quote from @Dominik Porobic:

Quote from @Max McQueen:

Hey BP Family, I'd love your insight on this.

I'm currently weighing two intriguing options: house-hacking a 4-plex or venturing into the realm of a mid-term rental with a single-family home or duplex, particularly for renting to travel nurses. While the former presents a classic investment opportunity, the latter has caught my eye for its unique and potentially lucrative approach.

As someone relatively new to this field, I'm aware that there might be aspects I haven't considered or opportunities I'm overlooking. Your insights, advice, and recommendations would be invaluable to me in this decision-making process.

Thanks!

When weighing the options of house-hacking a 4-plex versus mid-term rentals for travel nurses, consider a few key factors. House-hacking offers a classic investment opportunity with less furnishing and management intensity. On the other hand, targeting travel nurses for mid-term rentals is unique and potentially lucrative but involves more hands-on management and furnishing efforts. Location is crucial, so research areas with high demand for travel nurses. Assess your capacity for involvement and consider potential vacancies. Additionally, be open to Airbnb as a solution for filling gaps in occupancy. Ultimately, your decision should align with your risk tolerance, involvement capacity, and long-term goals. You could also just get a 4-plex and use a smaller unit to "test the waters". Good luck!

 Some sheer wisdom was shed here, thank you Dominik!