San antonio, TX · Member since 2016 · 28 posts · 1 vote
Hello my BP Fam. In the next month and or so I'm looking to leave California for Florida and I'm either moving to Jacksonville FL or Daytona Beach Fl. I would like to buy a 4plex to start with but I may end up buying a sfh and Airbnb the other rooms out but from my findings online, it seems like they are not allowing bnb nearly as much as they use to in parts of Florida. Anyone shed some light on this???
Lender · Chicago, IL · Member since 2018 · 352 posts · 147 votes
7y
@Adam Noble each city is different. For a MF if you occupy one of the units you should be able to Arbnb the others. In Chicago no one even knows that City doesn’t allow Arbnb on investment MF, I am sure they will crack down in the future.
You can get a MF with a 3.5% FHA or 5% down with Freddie HomePossible
San antonio, TX · Member since 2016 · 28 posts · 1 vote
7y
@Diana Muresan yes, I ideally I would like a 4 Plex because I can get more for less basically but it's seems like it even depends on which "zone" you're in, in that city. so one part of that city may and the other may not.
Lender · Chicago, IL · Member since 2018 · 352 posts · 147 votes
7y
@Adam Noble I wouldn’t listen to what other people tell you, just ask the city. It’s not easy to find that info. I was about to get a MF and use it all as Airbnb and my realtor told that even though lots of buyers do that, it’s just a matter of time until the city cracks on inv MF. I don’t want to take the chance to invest in furnishings and to be fined and remove them later, even though that might not happen for a while. No one seems to be even familiar with the city rules.... so do ur due diligence
Rental Property Investor · Annapolis, MD · Member since 2011 · 232 posts · 170 votes
7y
@Adam Noble any specific reasons you want to Air bnb instead of long term rentals with your fourplex? Perhaps maybe more potential income but the time commitment and headache will be much higher.