Whether you’re flipping, building, or investing in rentals, I’d love to hear about your experiences and how you’ve worked around any roadblocks.

Did my rental analysis and it would work fine as a long term rental.

Hi Palak,Congrats on your first rental property!

Thimble does not insure short term rentals.  

The sales and rental market in SWFL is absolutely terrible.

and also like what I do Utilize as STRs: You furnish and list these properties as short-term rentals (STRs) on platforms like Booking.com or Airbnb.Generate Cash Flow: The higher rental income from STRs, compared to long-term rentals, allows you to cover your mortgage/lease payments, generate positive cash flow, and potentially have funds left over for further investments.Positive Cash Flow: STRs often generate higher rental income than long-term rentals, allowing you to cover your costs and potentially profit.Tax Advantages: You can often deduct expenses related to your STR business, such as mortgage interest, property taxes, and maintenance costs.

No--the rental agreement could begin a reasonable amount of time after you move out.  

In contrast, the appreciation potential for multifamily properties can be higher, especially in markets where there’s a strong demand for rental units.

This creates two loan payments ($100,000 of equity and $300,000 on the new mortgage).Key NumbersHome Equity Loan Interest Rate: 6%Mortgage Interest Rate: 7%Rental Income: $3,000 per monthExpenses (management, taxes, insurance, maintenance): $800 per monthIncome and ExpensesMonthly Rental Income: $3,000Monthly Expenses: $800Monthly Mortgage Payment: $2,000ExplanationThe investor earns $3,000 in rent each month.They pay $2,000 on the investment property mortgage and $800 on other expenses.This leaves $200 profit each month or $2,400 per year.However, you have to pay $6,000 interest on the equity borrowed.This leaves you with an annual loss of $3,600.While the rental property generates positive monthly income, the interest cost of borrowing the initial $100,000 results in an overall loss.

At the time of purchase, I knew I might not want to stay indefinitely and at some point to might convert the home to a rental property.