I have no idea what a short term rate would be for you, but just to put it in comparison - if you rented your place for $50/night - that's a maximum potential income of $1,500/month.  

Some cities, you send in your rent 2 days late and you might as well include the late fee.

Renting the spare bedroom gets us to $1350 each.

I’m currently in a duplex that I house hack and the tenant’s rent covers my property taxes, my water and sewer bills, and almost all maintenance costs.

When I ran numbers a few years ago for a higher end condo vs newer, but starter home, the purchase price for the house was a bit more ($40K), but I could rent the house for more and payments were similar once I added in the condo fees...I went with the house.

Change things like interest rates and rent payments if they are not currently agreed upon to get a more comprehensive view. 

Comps may seem to support a certain rent or price, (high or low) but it may be pulling data from an adjacent neighborhood that's much different.Plenty to choose from here - good cash flows in the lower priced properties, but an awareness that it comes with less appreciation and rent growth potential.

It's for sure taken time to look into the different properties that could be available, HOA fees to consider, which ones will allow you to rent out long or short term, etc.

I am currently renting but I like the idea of house hacking to start out.

Hi All,Our tenant's lease requires a 60 days notice, she only gave 30 days notice, and we immediately started advertising the property and were able to secure a tenant fairly quickly where her lease ends on June 30, 2024, and she has already moved out as of June 22, 2024 after paying the rent for the month of June, and the new tenant will move in on July 1st, 2024.