Imagine a 4bed/2bath home with a small ADU in back, a converted garage with a private entrance, or a three-level home with a basement that can be converted into a private apartment.You can get privacy and house hack, but it takes a little more effort.

If they think they have an "Airbnb" Unless they own the publicly traded company, then they only have a STR, or a vacation rental if they have a nice place/location.

I want to build my network, get a better understanding of this market and share my knowledge with others.

I plan on renting a unit and probably getting a roommate or two in my unit to maximize cash flow early on.

But if you are getting bigger, it is a necessity.

Using the 203k or now the HomeStyle loan you can buy a fixer upper and get all the money to renovate. 

Quote from @Shane Kelly: Quote from @Riggies B tang: I am looking to get into AirBNB in the Cleveland market as well but not sure which part of the city is good for this model.

They wanted a $10,000 fee upfront (before you get the loan) to do "due diligence". 

Also tweaking your pricing on VRBO and Airbnb so you are active and it pushes you higher in the search results.Tweaking the price that gets pushed to these platforms works as well.

Even if you do find such a deal, getting it to cash flow after repairs and a cash-out refinance is extremely difficult, especially for single-family homes.