Can I buy and live in a short term rental?
Joanne from Maine asked:
What are some best practices or tips for working with a third party service or company for help maintaining and renting out a property as a short-term rental when it is not occupied by the owners? Would it be reasonable to expect a profit on a short-term rental property that was purchased for part-time owner occupancy? Or is it better to have a “break even” mentality where the rental income covers mortgage and expenses when the owner is not there?
And Eric from Honolulu asked:
What are your thoughts about buying and living in a unit in Ala Moana hotel? What are the hidden costs and inconveniences first time buyers are not aware of? (Maintenance, assessment fees, cleaning fees, no parking, complaints about non-local Mantra management group?)
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