Is a Rent To Own property worth it?

[Latisha Major]

I'm looking for ways to purchase a property so that I can do Airbnb the two things holding me back is that I don't have a large sum of money for a down payment & my debt to income ratio is too high to get financing on another property due to my student loans and the mortgage on my primary residence. Start February 1st I'll begin house-hacking which will free up funds. I'm considering purchasing a rent-to-own property so that I can start doing Airbnb on that property which will allow me time to pay down debt and increase my income. I've just started doing my research on rent-to-own properties and contracts and there are a few more cons than pros for a person that would actually live there but since I wouldn't live there and use as a rental property I feel like the pros out weigh the cons for me. What are you guys thoughts around purchasing a rent-to-own and using it for Airbnb? Good investment or Bad investment?

[Latisha Major]

Thanks for that valuable information. That’s very helpful! The goal would be to have it written in the contract that I’m allowed to list the house or unit on Airbnb in a neighborhood that doesn’t have regulations against.