Primary condo unit with AirBnb (House Hack)

[Haley Jang]

Hello all, 

I'm thinking about renting out a condo unit whenever I travel. I know people often say condos might not be the best investment due to HOA stuff, but I still want to run the numbers. My idea is to live at the condo for less than a year, Airbnb it whenever I'm not there, and then move to a new city while fully Airbnb-ing the place. My goal is to avoid spending money on apartment rent in downtown (and possibly even generate some extra income) until I make the move to the new city for MFH investment.

Here are my questions:

1. Assuming "there are no HOA restrictions" and "the location is really popular area", what things should I really think about to figure out if this whole plan makes sense financially? I've got the basics like Mortgage, HOA, Taxes, Cleaning fees, and vacancy rate down, but what other expenses should I be aware of, especially for short-term rentals? I've mainly thought about long-term rentals before, so diving into short/midterm rentals, especially for my primary home, is new to me. Would the 1% rule still be a thing here? Any additional guidance or resources you can offer would be greatly appreciated!

2. Can I put a lower downpayment (<20%) with a conventional loan since I'm planning to make it my primary home, even though I'll be running it on Airbnb? Appreciate the insights!