Although I am still new to real estate, the  strategy that seems most appealing to me is long-term rentals, but in regard to investing in real estate, I am very open to any other strategies in the business.

Strategy 2: buy a single-family house with at least 4 bd, live in one room, rent out the rest of rooms as a mid-term rental on Airbnb / long-term rental.

Navigating the Surge in Rental Application Fraud: A Guide for Landlords and Property ManagersIn recent years, the rental market has experienced a troubling rise in application fraud.

Or we gradually perform high-quality updates for a live-in flip, then roll the equity into a new home.Regarding rental income, we aim to boost income, lower our effective tax rate by generating more low tax-drag income with rental income (since there’s not much we can do to lower out W2 tax bills) and have retirement cash flow.To compare the financial impact over 10-20 years, we want to analyze renting versus flipping.

So, your focus may need to pivot from high rental cash flow to little to no cash flow as a rental with an appreciation upside.I would recommend taking your $150K to $200K and securing a solid equity position in something that will cover its expenses and maybe provide a small cash flow, but then is poised to appreciate nicely over the course of the next several years. 

Hello @Timothy Hilario,I think there are benefits to both strategies.If you move out of your apartment and rent it as a mid-term rental, you could see decent cashflow without pulling equity out of the unit.

Yeah the plan is for her to do everything for the rentals, collecting rent, posting houeses for rent in Zillow, evicting tenants, tenant application, etc but I don't know if these would be enough for her to have spent 750 hours a year...

Quote from @Brandon Bell: I've owned a property for four years with a standard fixed-rate mortgage, and now I'm looking to convert it into a rental.

We don't have much capital to work with outside the equity in our current home, but should be able to come up with first/last/deposit on a rental without selling.  

I currently use the security deposit replacement and rental damage protection product from Waivo, which I accessed through my Furnished Finder dashboard for my mid-term rental (MTR).