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Should I buy the house next door for a long or short term rental?

Michael Anderson
Posted Mar 29 2021, 15:54

I have the chance to buy my neighbors house in Arvada off market. It is a single family 3/2.5. I am a little concerned about having a long term rental right next door, but wanted to get some advice from others. I can get the house for a slight discount and not go into a bidding war like everything else. Obviously still more than I want to pay for an investment property because It will probably cash flow only $100 month. Long term plan is to move out of my current residence and rent it out, so it would be great to have 2 rentals next to each other.

I also am think about short term rentals. Does anyone in Arvada have experience with STR's?

Thanks for any input!

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