I've done more research on multi-family than short-term rentals though, so I'm definitely looking to learn more about short-term rentals before deciding which I should focus on (at least initially).

The lease that I use (and would guess most boilerplates) have a clause about the lease ends in the event of a long term unoccupiable event (fire, for example.)

I'm looking for guidance on the following options - 1) cash-out refinance my house hack duplex so I can buy another soon, or 2) just do a rate and term refinance, then keep saving and wait to buy another.

If any Chicago investors are looking for short term rentals I am sure they'll look to you, since you are providing great info and have fantastic experience in the market!

They do this in several ways including the raising and lowering of the “Federal Funds Rate (Fed Funds Rate)”, or the rate at which member banks can borrow money in the short term from The Fed or from other member banks.

Many long term rentals no longer cash flow without a large cash down payment or simply purchasing with cash.

Quote from @Adam Terneus: Just got another email from Marco…😑17% Interest Promissory Note | Short TermsMy partners and I are raising $5 million of short-term expansion capital for our exciting and profitable growing business, the Aspire Tour.

Short term is pretty active so it will be much more time consuming.

@Debra Lyon Converting your long-term rental in Orange, TX into a short-term rental is a smart move, especially given the demand from traveling professionals and refinery workers.

We’re usually structuring short-term loans in the 6–18 month range, with flexibility to build in interest reserves if that’s the right fit for the deal .I’d be interested in learning more about your current pipeline — especially the $400k–$800k range you mentioned.