Multigenerational Home - STR and part-time vacation home

[Chad Price]

Hello,

I am considering the idea of purchasing a multigenerational home so my wife and I can use it as a part-time vacation home in which we would use the in-law quarters with separation from the main house via locked door.  The remainder of the house we would do short term or mid-term rentals.  

Just curious, anyone here done this type of thing before?  Pros/Cons?

Thanks,

Chad