House hacking/rent hacking

[David Fleita]

Hey guys! I am a 23-year-old recent college graduate who just moved to the Nashville, TN area and I am currently on the other side of house hacking as I am subleasing an empty room in a house about 25 minutes outside of the city. In an effort to reduce my commute to work every day, I am looking to move closer to the city and, this time, be on the landlord side of house hacking. Because the housing market in Nashville is so high right now, however, I have been looking into more apartments and researching the idea of "rent hacking." My friend and I who I am planning to move in with figured out that if we put our money together, we would be able to afford to take out a 12 month lease on a fairly nice 4 bedroom apartment downtown Nashville. We would be doing this with the intention of renting out or AIRBNBing the extra rooms. Based on the current going rates (especially for airbnb) in downtown Nashville, we think we can pay off our monthly fees with the gross rent income if we fill both extra rooms ten out of the thirty nights in the month. I am wondering if anyone has tried a strategy like this before or has any sort of knowledge to the idea that may be able to provide some tips or advice. Thanks!