Mid Term Rentals In Jacksonville Florida Via Rental Arbitrage

[ST King]

Hello everyone!

After a few years of sitting on the sideline with regard to investing in real estate, I think I'm finally ready to get this show on the road. 

I've decided, starting off, that I'd like to try renting apartments in my current market (Jacksonville, Florida) then furnishing them and offering them to traveling professionals on AirBNB and/or furnished finder.  Ideally, I'd like to run a strictly mid-term rental operation, though I'm open to short-term if it make sense given the regulations here.

I'd like to get a feel for whether anyone has tried this strategy in Jacksonville and how's its turned out for them so far? 

Any feedback is greatly appreciated.  Thank you.

[Alana Reynolds]

Quote from @ST King:

Quote from @Alana Reynolds:

I'd like to follow this post. I reached out to several landlords asking if they would allow sub leasing but have not had any luck. 

Yes, you would lease their property but, in the contract, they would agree to allow a sublease. You would want to say that you are responsible for the maintenance of the rental unit, repairs etc. They benefit by having a year lease with guaranteed income. I would check on airdna to estimate how much based on statistics that it would make as a short-term rental. Ideally, a location near a hospital or other attractive amenities is ideal.
The upfront investment you would need is the Security deposit and 1st months rent, and cash to furnish the unit. This could cost 10,000 or more depending on your budge, size of unit and quality furnishings. You are taking the risk of not making enough to cover the rent so due diligence is important.  Also consider the type of property landlord insurance you would want to have. I am happy to brainstorm on this subject, any more thoughts? 
Really appreciate your support on this, Alana!

I have a few leads on landlords that may allow it.  I did some sleuthing using AirBnb as well as my general knowledge of Jacksonville to determine which landlords already have listings.

One of these landlords has approximately 15-20 listings -- so my guess is that they'll be okay with it.  

This is, of course, assuming they are aware they have units listed on AirBnb.