Greater Boston-10+ people STR accommodation

[Ling Lin]

I plan to purchase a house thats over 3800 sqft 6 bed/4 bath in greater boston area. I cannot find many houses that can accommodate more than 10 or more people. I am in the debate of fix and flip or fix then STR or LTR. Ideally i would prefer STR because more cash flow but i just cannot find many examples in the area for me to make the judgement. What would you do?

[Jack Mawer]

I would look at AirDNA for STR projections in the area and then compare that to the market rent for a long-term lease. There is a rent estimator on Bigger Pockets under tools if you want to take a look at that. The biggest thing that I would be careful with is determining if people will rent out this property year-round as an AirBNB or if it would have high occupancy in some months and no income in others. At the end of the day, STRs generally produce more annual income in most markets than a long-term lease would, due to what you can get away with charging per night rather than a monthly rent.