On one end there is the kind that’s a slightly longer extension of short term rentals - vacationers, travelers for pleasure, and business travelers staying one month or so and wanting something larger and more residential than a motel/hotel.  

The biggest thing is you'll want to ensure you have enough time for a commercial appraisal - these are much more extensive than 1-4 unit properties and cost 3-4x as much usually.

You can use an FHA loan and put 3.5% down in that instance because it’s owner occupied.

For instance, you might have to sacrifice by living in a city you don't like for a year or two to get started, or maybe you have to sacrifice by having housemates in a house hack, or living in a neighborhood that isn't your favorite...or, you might have to sacrifice a lot of time doing things like building a team, analyzing properties, etc., etc.   ...in general, these types of sacrifices tend to be easier when you're younger (especially before marriage/kids)  ...as the Great Warren Miller said about becoming a ski bum: "every year you wait to do it, you're just one year older when you finally do do it"  --the same thing applies to real estate; the sacrifices necessary for success often become harder to make the older you get... it's a whole lot easier to live in a house hack with 7 housemates when you're in your 20s than when you're in your 40s!...

Because of all this, if I were looking at STRs, I'd be extremely conservative with STR financial models right now--for instance, I'd want to include worst-case scenarios (like unprecedented vacancy) in my model, and I'd want to have multiple viable exit strategies on the table.

We have seen some instances of price adjustments and higher incentives, but low supply has insulated many builders," he shares.New-home sales for the metro area increased 7% year over year to an annualized rate of 3,425 units in June.

I paid for extensive repairs for one of my my rental properties deck in 2022.

You should also do extensive research on the areas that you are looking in for crime, vacancy rates etc. 

For instance, where I live in Los Angeles County, there is a post-pandemic eviction moratorium extended until June 2023.

At my company for instance, we rebuild the building on paper from the ground up using construction software then apply a condition factor.