Hi everyone,I’m exploring a unique development opportunity involving my property and neighboring parcels, and I’d love some advice on how to move forward.My neighbor is currently in the process of building 54 townhomes on the property directly in front of mine.

@David PopeYou probably inherited a 5.6% interest in a partnership which owns the property, as opposed to having a direct 5.6% ownership of the property.

VRBO bookings have been down Airbnb bookings have been up, but it has its own problems like siding with a guest who trashed my house with unauthorized party , truly if I had the time I would try to get off these platforms and go direct to customer, easier said than done. 

I think the cycle is now back to door knocking, direct mail, and bandit signs.

This ballooned the amount of guests booking longer stays on their platform, and pushed them into being an industry leader in the medium term rental space.My company has had a few struggles with payments, both with direct bookings and also for guests staying through AirBNB.

This approach would allow me to learn with each deal and minimize initial risks.2️⃣ Go Straight to Multifamily: Instead of starting with SFHs, I could spend time learning the multifamily business and go directly for a 20+ unit building, maximizing scalability from the start.I have no experience with either strategy.If you were in my position, which strategy would you choose and why?

As a starting point: -If they work full time and make $700k a year -Don't want to or can't spend time self managing a short-term rental -Don't have a spouse who wants to take the lead on managing the rentals They are likely not going to directly reduce their taxable income with real estate year-to-year. 

Some people love it, some people hate it.Benefit is once you get on the program the government direct deposits into your account. 

From the brief amount of research I have done I think the first action I would take would be in the direction of Househacking. 

Our partner, BJ & Traci Medlen, found this property through direct outreach.