@Johnny McKeon Thank you for providing the details that make this easier to think about and answer.

Sharing the same refrigerator and thermostat with strangers is a lot easier said than done...

As a homeowner, I can’t help but feel a bit hopeful that home prices may decline, making it easier for us to purchase additional properties.

You can use 1031 exchanges to trade multiple properties for fewer to make it easier to manage in retirement or even to trade into passive real estate investments. 7.

My primary target area is Champaign, IL.

I personally am in a college town and my target audience tends to be single travelers, and or couple(s) traveling to visit campus or visit their student at school.. so for me in my market the 1 bedroom / studio units are the best ROI in terms of occupancy and revenue per sqft, I believe. 3) I’d open up a convo with a few local hosts and see what their experiences have been and chat with them about their journey.

Buy: As housing affordability worsens in many markets, more people opt to rent for longer periods, which creates an opportunity for mid-term rental investments.Target Demographic: Affordable housing shortages often push middle-income earners toward rentals, making this group a prime target for mid-term strategies.

They said it was a lot easier and better to simply create a new LLC to properly match what you are trying to do.  2) So, that is the other route, creating a brand new LLC.The PartnershipThe hardest ship to sail is a partnership, and there is no "fairest way" to do things. 

Once you get multiple under your belt, it becomes a lot easier to do this type of creative financing.Just keep in mind, private money loans can come with higher interest rates, so you’ll want to ensure the margins on your flip are high enough to cover those costs while still leaving room for profit.If you’ve got any more questions, feel free to reach out—happy to help where I can!

Moving from a multi-family (like your 3 units) to a single-family setup can offer attractive rents, especially when targeting college housing, but it can also be a tricky path.From what I’ve seen, success depends on local market dynamics and the specific demand for single-family vs multi-family rentals.