Just bought my first rental property - Should I do STR/MTR/LTR?

[Account Closed]

Just bought my first rental property (1 bedroom condo) in the Walnut Creek, California area (SF Bay Area).

I bought it all cash so I don't have any holding costs other than HOA, and property taxes.

At this point, I'm not sure the best way to make money from it.

Long term rental (LTR) - Either 6 month or 1 year lease. Steady cash flow, but concerned with California laws around someone not wanting to move out when I ask them to. 

Medium term rental (MTR) - Furnish the apartment with some light furniture and start marketing it to hospitals (travel nurses) and corporate stays. Concern here is the apartment may have a high vacancy rate and I would not make as much steady money as renting it long-term. It could stay empty for long periods of time.

Short term rental (STR) - Put it on AirBNB and furnish it with light furniture. Same concerns as above around vacancy rate, and having to build my AirBNB business (have never done AirBNB before). Also, I'm not sure if the condo HOA allows AirBNB, or if they'd care. My plan is to only rent to people with high quality AirBNB profiles with many reviews.

Combination of Medium term rental (MTR) and Short term rental (STR) - Primarily use it for traveling nurses and corporate stays, and put it on AirBNB when it is empty. 

Which one would you choose? Would just renting it long-term with a lease be better? 

[Joe Scaparra]

@Account Closed, don't want to rain on your parade, but this question should be step one AFTER YOU DETERMIND YOUR GOALS and before you buy.

Are you investing for cash flow or appreciation, short-term or long term hold? Did CA recently change the rules for owners of investment real estate.......probably not that is the Major reason I would not consider investing in CA. Do you live close to the property? Do you have any experience with STR? It is not about how can you make the most money, it is more what is the best FIT, FOR YOU!!!!