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Updated almost 3 years ago,
Thoughts on Duplex Purchase w/ some Airbnb Activity - Buffalo
I'm hoping to get further in my attempts to purchase a vacant duplex home in City of Buffalo soon without being outbid.
I'm thinking about renting 1 unit long term and keeping 1 unit open for personal use during late summer/fall. Sort of like a second home house hack.
My first question is, how feasible would it be to Airbnb the personal unit the other months of the year when we aren't using it? I see there are some City registration requirements/fees and it doesn't look like there are a ton of Airbnbs in the city already. My goal would be for it to be quiet apartment stay and not a party house or nuisance, I would not want to disturb the long term tenants or neighbors.
Second question, what is the best way to approach this from a mortgage perspective? I'm already pre-approved for a conventional investment loan and my intention was to create an LCC and transfer the deed after closing. I'm not sure if a second home loan would be any benefit in this scenario vs. an investment purchase loan?
I'm out of state so I'm going to need a property manager. I'm not sure if any property management is doing both long term and Airbnb but I guess could go with two separate companies worst case. I would appreciate any recommendations.
Thank you!