The BRRRR strategy, which stands for Buy, Rehab, Rent, Refinance, Repeat, focuses on long-term investment, while the Fix & Flip approach involves purchasing, renovating, and selling properties for a profit.Investing in Airbnb rentals presents a distinct set of challenges, requiring active management and a thorough understanding of local regulations, but it also has the potential for higher returns.Here is a concise overview of the advantages and disadvantages of each method:Fix & Flip:Pros.- Potential for quick profits - Enhances property value - - Adaptable to market trendsCons.- High risk - Time-intensive - Requires substantial capitalBRRRR:Pros.- Builds long-term wealth - Generates rental income - Increases equityCons.- Complex process - Requires financing - Dependent on market conditionsAirbnb:Pros.- Potential for higher returns - Flexible pricing - Short-term commitmentCons.- Requires active management - Subject to regulatory risks - Income can vary seasonallyI wish you the best in your new venture.

Are you looking to have a team manage these properties? 

I'm always surprised how expensive Portsmouth is by comparison.May I ask how much you plan to DIY the property management? 

Many of these homes in the midwest can be old, and have deferred maintenance and the management of these assets (ie. handling Detroit winters) is often where the deal is made or missed.

@Lindsey Matejak we manage a lot of apartments in Berwyn and Cicero where the 2023 flooding happened.

You can complain to the Realtors managing broker.

For over a decade, I’ve focused on multifamily acquisitions and asset management with firms ranging from small boutique offices to large syndicators.

From there you can start to identify what you are looking for.Where do you land on the follow spectrums:Cash flow and AppreciationLong term or Short term needs (waiting for growth vs get out of my W2 now)Long term rentals, Mid term rentals, Short term rentalsBuying close to home or coast to coastSelf manage or hire a PMIf you can narrow in on those, you essentially have your buy box. 

I did as she asked and managed to book 6 of the 14 nights she had cancelled.

I wear a few hats as a realtor, property manager, STR host and project manager so if you'd like to chat about any or all of those services, I'd be glad to schedule a call!