Most of the benefit comes in the sign up bonus.

@David Shapira House hacking in Boston can be great but its more of an appreciation play then cashflow when you move out. 

(Owner-occupied)You can play with these on your county's tax assessor sight, estimating real property taxes for occupied/rental.If you want to get into the SFH space, and be competitive, I think your best bet is to invest in properties whose assessed value is sub $75k-$90k.

@Robert Vanecek not to play the devil's advocate, but what will the tenant do when a potential buyer brings their family through? 

There are a lot of unique tax laws available to real estate investors(cost seg, 1031 exchange, qof, bonus depreciation, 199a deduction, etc).The fact that you have an Airbnb, you likely have more gross income from their LTR counter parts.

I'd say make sure you have at least a 10% contingency budget allowed for any unseen freeze damage to play it safe.

Non-qualified use comes into play when the property in question was first a rental before converting it into a personal residence.

More generally, how much does the building play into the appreciation of the condo?

Anything in a coastal market is more of an appreciation plan than a cash flow play.

While I'd never play around with safety issues, people who rent well below market have to accept well below average conditions.