The neighborhood has been flourishing, making this incident highly unusual.What initially drew me to the property was the potential for high rent and strong cash flow.

Just to confirm on the duplex, you're getting a total of $2,600 per month in rent, is that correct?

I have missed out on rent from an empty unit. 

Aiming to maximize cashflow to fund future investments, but as newly weds rent by the room doesn't feel practical right now. 

Currently, he rents and needs a down payment to purchase a primary residence.

Make sure your rent covers all expenses for positive cash flow.

And also rents! 

Secondly, short-term rentals provide flexibility for owners, allowing them to potentially use the property themselves when not rented out.

Once the year passes you can move out, rent and repeat or try something else. 

Then over the course of the first year or so, if you could raise the rents by a total of $1k/mo (they are currently $2k, $1k, and $1k), then you might be able to pull out about $60k-$80k in a cash out refi.