Hey Jordyn,
I am on the fence of getting a more turnkey property or one that needs work. I like how I do not need to put extra cash into a turnkey property, but I like the idea of being able to force appreciation in a property as well. I like the idea of getting an Airbnb in the Old Town area. I live around this area and I am really familiar with it. I believe I have a good understanding of what people are looking for who travel to the Old Town area due to me being in one of the target demographics of this area (male in his mid 20s). If I could cash flow $1k a month profit on an airbnb property I would be pretty ecstatic. Not sure how realistic that is. I also know these require more work and probably more investment up front to make the property "stand out". My only concern would be some sort of regulation changing soon where the short term market is completely changed up after purchasing. From what I know about section 8 housing, I like that you can buy a "cheaper" place and have it cash flow higher than a typical long term rental property. The less money I put into a property, the more I have to get my next one as soon as possible. I do like the idea of continuing to take advantage of FHA or conventional 97 loans because I can build my portfolio quicker.
