Research market rents, carefully calculate expenses, and ensure you have a solid lease agreement.

We'd love to escape the cold Dutch winters and enjoy a warmer climate.When we're not using the property, we plan to rent it out as an Airbnb to generate passive income.

@Tamika Davis One of the biggest advantages of most software on the market is to complete these tasks you mention (maintenance, leases, rent collection, etc). 

So house for house, apartment building for apartment building.Have your parents considered renting the house they are living in for two years and moving back into the rental unit for 25 months.

However, after receiving the survey results, I discovered that the house is located less than 1 foot over the sublot line (see attached image).Here are the options I’m considering:Rent the current house for market value (~$1,500–1,600/month) and convert the detached garage into an ADU to rent for ~$1,000/month.Relocate the house to split the lot, then sell the newly created lot (~$100,000) while renting out the existing house.Relocate the house to split the lot and build a new home on the second lot.Demolish the current house and garage, split the lot, and build two new homes.At this time, I am uncertain about the cost of relocating the house.Questions for the community:Has anyone faced a similar situation?

Most are in towns of 5,000 or less.We are in Phase 1 rent up stage in our first large city location(630) and in building stage across town (330).Ihave used this tool for all of the Buyouts or build outs above.

And 3 days a year I spend about 30 minutes pondering a repair, rent increase or turnover choice. 

How many bedrooms does it have and what do you think it'll rent for?

You can simply request a separate check for the $100 increase to bring the total deposit in line with the new rent amount.

The increasing barrier to entry results in fewer new STR's coming available for sale, but also fewer options for guests to rent.