House Hack in Federal Hill/South Baltimore

[Steven Silbert]

Hello fellow BPers!

An opportunity has arisen for me to rent out my current primary residence that I cannot pass up (about $1000/mo cash flow), and so, as a real estate investor, I of course want to do a third house hack instead of renting.

I work around Ft. Meade and still have 2 years left in my contract (Army). I want to move to Federal Hill because it's fun, up and coming, and has great potential for short term rentals. Also, it's close to the freeway for me to head South for work, which is why I chose it over Fell's Point or Canton. Up until now, I've only rented out rooms in my SFH or a whole townhome for long term rentals.

I was wondering if any of you have experience with AIRBNB or VRBO in the Federal Hill area. Do homes in the area pull good rates and have low vacancy? Do the rooftop decks pull in more renters? I feel like moving toward short term rentals will give me the saving potential to start BRRRR in the area eventually.

Also, any leads on good multi-families or houses with ADU/mother-in-law suites of course would be greatly appreciated.

Lastly, if you are in the area and want to talk shop about everything Bigger Pockets, coffee is on me :)

[Joe Norman]

Sounds like you're off to a great start in REI! Baltimore has some pretty strict requirements for STRs, the most significant being that it must be your Primary Residence (I don't believe we can post links in the forums, but google "Baltimore City Department of Housing & Community Development Short-Term Rentals" and it should be your first organic hit).

If you're going to go down that path, make sure that the numbers work as a long term rental once you're ready to move on. Good luck and shoot me a PM if you have any other questions about specific Fed Hill listings.