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Updated over 3 years ago,
My First STR/LTR in one unit
Hi BP!
I am under contract for my first rental property. It is a 4 bedroom 3 bath home that has 2 units. The top floor unit is a 3/2 and downstairs is a 1/1. Both units have full kitchens and are rent ready. The total square footage of the house is just under 3k.
My original plan was to LTR the top and do a STR for the bottom. Now i am second guessing myself and thinking maybe I should do the reverse? i am thinking the bigger unit would bring in more, but i don't know how to look into this.
I am new to STR and have not learned a lot about it so my concern is that if I go with the STR for the top and aren't able to rent it out consistently that I will be losing money on the deal because I will have to furnish the top, which is a lot, and will lose out on the larger chunk of the LTR rent for the home.
Any and all advice and suggestions would be appreciated! Also if i missed any details needed feel free to ask!