Clearwater AirBnB Triplex Househack Advice

[Tim Kaminski]

Looking to make my first purchase an Airbnb House hack.  Its a 2/1 building in the front(That I would occupy), and (2) 1/1s in a separate duplex behind(That I would AirBnB).  Property is a 1946 wood frame build in Clearwater, FL., non floodzone.  It is just before the bridge leading down to the beaches, for those familiar with the area. Seller is asking 210k.  AirBnBs are common in that area but my concern was 1.) The amount of rehab the home needs and 2.) The area for AirBnb success as it is not on the beaches(5-7 min drive).

1.) The front house was empty when we saw it, which may have made it look more appealing as the back 2 units were occupied and very messy.  Front house has wavy floors, bathroom that needs to be redone, old wood siding on ext., possible old plumbing and electric.  Back homes will need carpets pulled up, flooring put down, bathroom remodels and update on all appliances.  Landscaping as well.

2.) I'm very interested in the AirBnb route as I think the profit can be high, no eviction headaches, cleaned every 2-3 days etc. The thing I'm concerned with is that the location might not be ideal for those going to the beach as I would assume most ppl would want to stay somewhere without having to drive to the beach.  There are airBnBs in my area (6-8), similar specs, that are going for $100-200/night.  Some more popular than others.

I definitely would not offer anything close to 210k they are asking for as having seen it first hand, and talked to tenants about problems,  there is PLENTY of work to be done to get it up to AirBnB standards.  I would do conventional as well so any rehab costs would come out of my own pocket.

Just looking for advice/thoughts on if this could be a good first investment!

Thanks!