We just converted our first income property from an Airbnb to a long term furnished rental.

to summarize: there is no cash flow anywhere right now on a vanilla long term rental. 

But if you can purchase something in an opportunity zone that has potential you will likely get a better long term return on your money. 

I think 6-12 months is too long.

I'm planning on quitting soon, moving back home for a little and taking a few months in between my next job to pursue my first investment.My rough idea for an investing strategy is:  long-term, not necessarily looking for high cashflow (just want to start building equity), quality deals > amt. of doors, Class A/B neighborhoods mainly for low vacancy. 

I am open to both single family and multi-family as long as it cash flows.

The asset manager who trusted us to get their BFR communities back on track and performing through hard work and determination. 6.

Build an SMB on top of your real estate (the reverse of #2)Short-term rentals and high owner-participation real estate businesses can have great returns.Obviously not for you if you just want passive RE.We are in the deep end here, where each case should be judged on its own facts and merits by your CPA.You should hire a professional to review your particular situation before you make an investment.

Also, for short term rental owners in general, how do you find the necessary numbers to underwrite deals?

You put yourself at risk by following such advice.Our longest term renter (28+ years) is a person with a qualified disability, receiving disability benefits, and has a cat that qualifies as an assistance animal.