The downside is the risk of negative cash flow if the market shifts, but it offers liquidity and flexibility to deploy capital elsewhere.

I'm pretty flexible with what flooring goes down - Carpet, sticky tile, painted concrete, etc.

However, there are definitely opportunities if you stay flexible and informed.

Others are more flexible.  

Investing in real estate with after-tax dollars provides flexibility, leveraging, and tax benefits like depreciation, but involves an upfront tax hit if cashing out a 401(k).

Many of the BP podcasts are from a pretty young perspective, both in terms of flexibility and maybe even priorities.  

A simple check-in during their stay shows you care without being intrusive.Implement Self Check-In: Guests appreciate flexibility.

However, if you can STR the home at a higher profit, or LTR it at a lower profit then you've got the makings of flexibility :) 

If you can hold off for 2-3 years to save more and build a solid emergency fund, it may give you greater financial flexibility when you’re ready to buy.If buying now feels too risky, consider renting for a while to gain privacy without the long-term commitment of a mortgage.

It's a flexible approach, suitable for both single-family homes and multi-unit properties, and can be tailored to fit your lifestyle and financial goals.It's important to research local housing laws and market conditions to ensure a successful house hacking venture.