New Member looking for opprtunities / strategies to start out STR - Rental Arbitrage

[David Jean-Georges]

Hello Everyone,

I am new to BiggerPockets and the real estate Industry. We bought a single family home in Deltona Florida in July 2022, but honestly we were really blind and ignorants through the whole process. A few months after moving into the house things get tough with the mortgage and all the utility bills and day to day expenses.

At that time I started looking for how can I make money using our house, and found biggerpockets on youtube... I realized we did the wrong thing because we should be buying a multi-family house instead of a single one. What we can do? What are our options?

1. We were thinking of doing airbnb in one of the rooms (3 bedrooms, 2 bathrooms), but one of the bathrooms is out of service. It doesn't make sense to me to have guests now and let them use the only available bathroom (in the master bedroom).

2. About getting money from the house (equity, refinance, etc.). I don't think it's really possible because we got it at the end of July 2022 and we started the monthly mortgage payment in September (only 5 months of payment)

3. I kept looking to see how to have another source of income, how to have cash flow and I heard about short term rentals, specifically "Rental Arbitrage". Over the past 2 weeks I have listened to several youtube videos (Biggerpocket podcast with Avery Karl, Tony Robenson and so on) and Avery Karl's book.

I think the least complicated way for us to start "investing" in real estate MIGHT be rental arbitrage.. So, I'm looking for opportunities, and as you can imagine... I'm out of money. I am not to far from Orlando Florida, this us why I want to do tbe Rental Arbitrage around Orlando

I've heard of the DSCR loan which would be great because (as I understand) it doesn't depend on your income or credit score but on the expected income from the property. II wonder if it is possible to have a DSCR with no down payment or with a really low down payment (<10%)

Any comments or advice from the community will be helpful.