We are currently working with our lawyers to take next steps and get our money back along with damages due to wasted time and investments we missed out on along with other people who they have done this too.

Your situation presents a classic trade-off between long-term appreciation potential and short-term debt reduction.

This means you'll get a good cash flow, but appreciation of the property will be low.In the phoenix area there is more ownership and less renting, but due to prices increasing faster than inflation we are seeing a rise in renters.

@Matt PowersFrom my experience, deciding between short-term rentals (STRs) and long-term rentals (LTRs) depends on the market.

Another thing to add is the regulations, HOAs and Cities are imposing a lot of regulation on short-term rentals or rent by a room, I have seen some HOAs regulate the amount of people authorized to rent the property too.It requires to do a lot of due dilligence to begin with mainly in such big house. 

To make my question short, my wife and I just sold our house in Lincoln and made a profit from it.

Lancaster city limits short term rentals to only certain zones of the city so definitely look at the city website for that information.

I’m based in Tampa and run Graystone Investment Group, focusing heavily on helping (out of state) investors find and manage properties here in Florida.Totally agree on the importance of understanding those short-term rental rules in Florida—each area can feel like its own little country with all the different regulations!

I plan to use two of the bedrooms for Airbnb short-term rentals.

Wow it sounds like we are kinda "brothers from another" haha.It is extremely rare to find Millennials that are into Wright much less Rand :).