Advice Needed, AIR Bnb VS Rental
New member here, this post will be a little long but needing advice. Scenario is I have a small rental home that sits on a large lot in a neighborhood I would love to build in. I have had the rental occupied for the last 18 months & it cash flows about $250 a month. Considering I want to build on this lot (note it is a flag lot & is a one way driveway to get back to the home) The tenant is now moved out & I am wanting to begin building on the lot within 4-10 months. I am entertaining the idea of a Bnb so I can choose freely choose when I have someone living there especially since construction will be all of the place when it begins. My question is, should I continue to rent or try Bnb? Any tips for Bnb? I would be looking at $50-$75 per night but the occupancy rate is what scare me, its not a tourist town. When I am living in the new build I plan to do Air bnb, so I am not sharing a space with my tenant. This was all over the place but I would love to hear from anyone & everyone