I’m trying to familiarize myself with the area more thoroughly.it seems to have a stable increase in prices.Since I plan to live in the property initially, breaking even in the first year is my main goal. (5% down; PMI removed with renovation)However, I’m also wondering if it’s feasible to have some cash flow from such rentals, or if the risk of vacancy is high in this market.Any guidance or pointers from those experienced in this area would be greatly appreciated!

It has ample basement living space, that the tenant uses as a third bedroom.

A good way into it may be doing a house hack or live and flip then pulling the equity out in a refinance.Tons of ways to make money in this game!

You do not have to live in the home in order to do that!

Hey DenisI have commented a lot about arbitrage in a general sense here, however I believe I am uniquely qualified to answer here as I live and operate about 65 units in this specific market.In 2016 I got my STR start arbitraging a Gulf Front mansion that was in foreclosure and I got a great deal on. 

It will be remote, but since you live there now, you probably already have connections who either already know the house or local friends to find you good people to service things as needed.  

It is a TON of work but you only need 1 to 2 deals per year to live the good life.

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Yes, at first it is hard to find renters but because of my patience, trust, perseverance and dedication, I am now living my best life and living financially free. 

I never actually went live on the site because of the 15% fee they wanted.