30 Day Minimum Only STR, Bad idea?

[Kyle Roberts]

Hi Everyone,

I am currently looking at a potential house hack in Richmond Virginia that I plan to Airbnb parts of. However, the property is in an HOA that only allows minimum 30 day short term rentals. The property is in a great area and I see other properties nearby doing great numbers on AirDNA. I looked into these properties on Airbnb and saw that they do offer 30 day stays and the asking price for the stay looked very attractive for me as a host. However, they are able to be rented for less than 30 days as well. I wanted to see, has anyone bought a property that could only be used for STRs longer than 30 days, and what was the outcome?

For more context, I did look into renting to a travel nurse and with that revenue I would be cash flowing negative $1400/month. I pay rent of $1550 right now, so I would still be coming out slightly ahead. The ROI is very weak in this scenario.

Any thoughts would be great. Thanks BP Fam!