While the traditional approach involves buying a multi family property, living in one unit and renting out the other - with rising prices and interest rates; others have considered renting out bedrooms as unit spaces. 

This home is not a luxury home so the insurance route seems overkill.2) Buy a worry free waiver and add it to the booking rate?

What type of loans are you buying, performing, non performing, seller financed?

I am looking to buy a condo or apartment in nyc five borough area or any neighbouring counties( Long Island, Westchester).

You should definitely buy a property and give/rent out rooms to the homeless and disadvantaged.

When we sent someone out to fix up the home, the neighbor came over and wanted to buy the property as-is.

They will be able to give you some sage advice that would work for your specific buy box.

I’m looking to buy asap.

Just remember that $70 is the gross number they charge , they have to buy supplies , insurance , tools , vehicle , gas , workmans comp etc . 

After buying this house, I partnered with others to invest in a duplex in the Wichita area.At the moment, I’m living in Tennessee, and I’m weighing two options: either selling my house and using the proceeds to buy a duplex in Overland Park or Wichita with my partners, or keeping the house for another 3 years, transferring it to our LLC, and renting out the entire property to maximize its rental potential ( $1400-$1600 ) I currently owe $200k on the property with a 6.5% interest rate, and my monthly payment is between ($1,700-$1800).