Long-Term Rentals: What do you think is a better strategy for someone just starting out—focusing on Airbnb (short-term rentals) or traditional long-term rentals? 

For long-term strategies, a cash-out refinance is usually more advantageous, as it preserves ownership and offers fixed terms.To proceed, start with a professional appraisal to confirm the home’s value, compare refinance terms with traditional lenders, and carefully scrutinize shared-equity program terms to ensure they align with your financial goals.

We got it appraised for traditional financing and it came back at $3.125M so we were able to get our investor their $1.5M back.

“Selling” a co-living room is very different to showing a traditional unit. 

Thank you very muchJaša This is how traditional banks, private credit funds and anyone in the lending space works.The challenge you will have is finding someone to give you money at X%. 

We tell hosts all the time, it's more management and more money than traditional SFR.

My vision includes developing the land into a destination with features like driveways, walking paths, utilities, and unique lodging structures.Here’s my tentative plan1.Place the existing STR in an LLC2.Apply for an SBA small business loan to fund the next steps, including a feasibility study (~$10k+), land clearing, and infrastructure development.While this direction excites me, I’m torn between pursuing this venture and continuing with a more traditional approach—buying one home per year using conventional loans.I’d love to hear your thoughts:•Has anyone transitioned from STRs to glamping or similar ventures?

I still have clients buying in Vegas, but it's not as common due to cashflows being hard to come by with the traditional 25% down financing.  

@Kay S.Assuming you are getting title insurance (which I recommend) the closing costs will be similar to a traditional closing.

You can refinance into more traditional loans later, but that initial speed matters.