What would you do with this ?

[Lucio Gonzalez]

Hello biggerpockets community!! 
I have this situation where my grandmother plans on selling me her house 50 thousand bellow market value and wanted to know what would you guys do to best optimize this situation ?!

Here’s a few notes 

. It’s 3 bedroom house 

. I’m a first time home buyer ( age 21) 

. The house has no garage ( needs one built) 

. The yard needs some work 

. Area is so cal in la county 

. Any advice would be extremely helpful  

[Jeffrey Albaum]

Hi Lucio,

First off, congratulations! It's super exciting that you're getting into real estate and are able to find such a great deal for your first one! In terms of optimizing it, you have a lot of options: 

1.  If it's in a desirable area that you want to live, you can live in one of the rooms and rent out the other two to "House Hack" and live for free or close to it.
2.  It might work as a long term rental, if you need help running numbers check out the Bigger Pockets calculators or shoot me a message.
3.  You could AirBnb the house if the local jurisdiction allows short term rentals
4.  You could rent it out to travel nurses for at least 1 month at a time, which is considered a "mid term rental" and doesn't fall under the same restrictions as short term rentals, so if your area does restrict short term rentals (STRs), this can be a great options!

Hope this helps!