That would be a helpful addition to your plan as you would further reduce your cost of living.Also don’t forget from that $600 you are planning on getting in cash flow you have taxes, insurance, maintenance, capex, and vacancy to consider.With two homes, you may want to keep that extra $20k as an emergency fund rather than spending it on a third property and then be left with no emergency funds.

Also, keep in mind that an IN multi member LLC would require a separate tax return, so you would want to budget for extra admin fees.

It's easy to obtain, costs very little, and doesn't require extra, on-going effort to maintain.

Just make sure the town is ok with the land being zoned for multi-units, and look into construction costs, financing options, and permits ahead of time.

Setting up direct bookings is a great way to save on fees, but you’re right—it requires extra effort to ensure everything runs smoothly.For vetting guests, start by asking a few questions when they inquire, like the purpose of their stay, how many people will be there, and if they’ve stayed in short-term rentals before.

Once entitled( with it is)I can now sell the land I bought for 55k for several hundred dollars and if a get building permits  I can sell for substantially  higher.

Have an owner's closet, where you lock up your extra inventory so the guests can't use it. 

Who knows, when you get down here you may be happy you have some extra income coming in. 

•I’d compare this deal to similar non-flood-zone properties—if the return is much better, it might be worth the extra risk.

They provide everything the larger platforms do—and honestly, they have some extra options that others lack.