Mid-term rentals cater well to this demographic, providing a balance between long-term leases and short-term rentals.4.

@Michelle Lammers after listening to BG podcast #364 we decided to work with Avery Carl’s team at The Short Term Shop.

I have Proper insurance, tailored to short term rentals. 

If they stay more than five days, I recommend treating it somewhere during their stay.There are a lot of guides on youtube or Google specific to short-term rentals.

If you are looking to build quick capital and another full-time job, then flipping may be the answer...if you are looking for a slightly more passive approach and looking to build that long-term wealth, buy&hold'ing is maybe a better strategy.I've found introspecting on where I want to go long-term has helped clarify my short-term path...The beautiful part is Chicago offers all options at affordable prices general speaking compared to other metro areas.

You are posting from College Station so you know our winters in texas are fairly short ( less usage) but either way I would compare cost of the heat pumps to regular furnace before deciding.

(Trying to skimp on coverage by not telling them you're Airbnb-ing the place will defeat the purpose of insurance if they deny a claim because you weren't truthful.)There are specific STR insurance carriers like Proper Insurance, but most major carriers offer a rider for vacation rental or short-term rental insurance as well. 

Caveat: Rule of thumb is to not do more than 1-2 of these short-term transactions, otherwise, you could trigger UBIT. 

Personally, I tend to see it more with my clients when they are buying vehicles as they are scaling (crushes DTI/FICO in the short term), but that sucks that its impacting what you can do with your family.

Houston's short-term rental (STR) market has been unregulated up until now, but that's set to change by the end of 2024.