short term rental that is also your primary residence

[William Kazenas]

Hello all,

I was wondering if anyone has any input, at all, on this: 

Seeking short-term rental property in Austin TX....that I also live in ~ 25% of the time. 

My job has me out of town for 14 days at a time with 7 days between 2 week rotations.  

Does anyone here have any experience living in / renting out their own short-term rentals in Austin TX.

-- Will HOAs let you do this? 

-- Can you get financed with consideration to "potential rental income?" even if you haven't been a landlord before

(I have a little over a six-figure income, significant down payment ready, and excellent credit but I don't think that is good enough to get financed some of these 450k+units in high rental spots like Rainey or downtown?)

I, myself, am not wealthy enough to purchase in cash.  80% would need to be financed.  

-- which mgmt/cleaning companies do you utilize? 

-- are there other less obvious but otherwise reasonably high rental volume spots other than downtown? The Domain? South East/Riverside that I haven't considered? 

I would love to hear from you if you have done something similar before or feel like offering any advice.  I'm a fan of the BP podcast and read a few books but I'm just struggling to find anything that matches my unique living situation. 

Thanks to all. Have a great New Year!

[Katie Hanner]

You'll want to be sure to consider Austin's ordinances on short term rentals as well:  
https://www.austintexas.gov/str

https://austintexas.gov/sites/default/files/files/...