tip for first investment...

[Chris Carpenter]

Question for any of the experts out there...I'm looking to get in the real estate game in the next 12-18 moths. if one had $70-100k, would it be better to buy a small property with cash and rent it out monthly or put a down payment on a larger property in a tourist destination and rent it out nightly. I would use the 2nd (larger property) for myself as well as I frequent this destination 4-6 times per year. suggestions?

[Nathan Gesner]

There's not enough information to make a decision. Generally, a short-term rental will produce more income but it also costs more to set up and manage. Also, why would you buy a small property for long-term rentals but a large property for short-term? Small and large properties can both work for both.

Based on what you've said, I think you would do well with a small multi-family as short-term rentals. That would give you a place to stay during your visits while minimizing your losses since you could still rent out the remaining units.