The issues with househacking-type strategies typically arise when you apply for a new loan.

Have you considered other strategies?

I'm writing this in December 2024, when every other question asked on the Bigger Pockets tax forum is about STRs. If you're not sure what the fuss is all about, read this older post first:https://www.biggerpockets.com...

As a rental, tenants will likely prioritize the location over minor inconveniences.Your strategy of betting on appreciation and eventually pulling equity makes a lot of sense in this market.

What are ways you have seen landlords calculate rent raises?
I plan to raise rent by 2% yearly, and round to the nearest $25. After that, I will re-evaluate every 5 years based on local rent. I've asked for others op...

OR it may be the spark needed to build out your next RE revenue strategy.  

One STR can make much more than many LTR style investment strategies. 

What creative strategies have you found successful?

There is usually a missed opportunity in most markets delivering housing products that are needed but not readily available and the Zillow data most rely upon does not tell this story.Get to know the members of a community, their needs, what steers them away from the housing that's currently available.

Additionally, are there any other methods, approaches or strategies you’d suggest for someone just starting out in this space?