Should I buy 1M$ multifamily and househack or buy multiple airBnb

[Christian Med]

For my 1st Home should I buy a 1M 3 family home in NY and househack with 3 to 5% down or should I buy out of state air bnb house for about 300k with 20% down payment (in Florida)?  I currently rent an apartment. Not sure what to do🤔.  Thank you for your time and response, I really appreciate your help!  😁💪🔥

[Tyler Gibson]

Quote from @Christian Med:

For my 1st Home should I buy a 1M 3 family home in NY and househack with 3 to 5% down or should I buy out of state air bnb house for about 300k with 20% down payment (in Florida)?  I currently rent an apartment. Not sure what to do🤔.  Thank you for your time and response, I really appreciate your help!  😁💪🔥

 I personally think that you should buy the three family to house hack. Your budget of $300, 000 in the Disney area is likely not going to get you very far. Especially if all the cash you have is 20% of a $300,000 purchase price. The market here is crazy every house has multiple offers oftentimes cash over asking sometimes financing with absolutely no contingencies. It's extremely competitive where you have to have more cash than just your down payment and closing costs in order to be able to compete with other offers. You need to be able to use appraisal Gap contingencies or way of appraisals all together just to get the property under contract. Unless you find an incredibly good and cheap property manager your yields are going to be lower. Or you will need to self-manage from a distance. I think the Disney short-term rental market is great but it's for people that are either going to use it and offset the cost of ownership with the income it produces or they are fairly well capitalized and can take down the larger single-family homes that will produce a greater return.