Run the numbers on your first home’s rental potentialGood luck!

Typically, most cities allow for 30 day minimum rentals.

Rental rates are fine for SFHs - I haven't had to drop my rates whatsoever with turnover, nor have I had a single tenant try to negotiate a lower rate. 

I am currently in the process of saving my 20% + 6 months buffer for a rental property.

Initially we did a light renovation on the rental unit and a larger renovation on the 1st floor.

Too many newbies seem to think they can blindly follow "old" advice in today's real estate market and be successful.Many, basically get taken advantage of by those in the industry that have an incentive to keep newbies blind to new realties, just to keep their good times rolling.What many newbies have figured out is that they can't make the numbers work on rental purchases in their states - like California, Arizona, New York, New Jersey, Washington, etc.What they have NOT figured out is that if they go to cheaper markets, they aren't being shown Class A rentals to buy.

Taking a property intended for a flip and turning it into a rental or vice versa have historically been viewed as the most common pivots but sometimes the best course of action is to sell, even at loss.

The BRRRR method (Buy, Rehab, Rent, Refinance, Repeat) could also be a great strategy to recycle your capital.To find deals, try direct mail campaigns targeting absentee owners or distressed properties, or go driving for dollars in neighborhoods with strong rental potential.

We have worked through Zillow to advertise a midterm rental (also on other platforms too).

It’s not necessarily more difficult than market-rate rentals, just different.If you’re seriously considering this route, feel free to reach out.