We want to keep our home as a rental but we are not sure if we should do a long term rental or go the short term airbnb route.

Happy to provide a side-by-side showing what 30-year terms and rate structures would look like.Would you like me to send you a quick sample term sheet based on one of your current properties?

Conventional loans or bank portfolio loans are usually the best deal from a bang for the buck perspective, but these typically come with Conventional underwrites - personal income, DTI, etc.

Hi Iman,You’re thinking along the right lines—adding a short-term rental (STR) can be a great tax strategy even if you don’t meet the full real estate professional (REP) requirements.

Your tenant in an STR is a guest with very different needs compared to a long-term tenant.

Be sure you can attract health care travelers at the price you would need to make it net more than long term. 

Long-Term Rental in Tampa (LTR)Pros:More predictable cash flow and tenant turnover is lower.Easier to self-manage or hire a property manager affordably.Ideal for “set it and forget it” investors or those with full-time jobs.Potential for long-term appreciation and mortgage paydown.Cons:Lower monthly cash flow relative to STRs.Losses are typically passive unless you qualify as a Real Estate Professional (REPS), which limits tax offset opportunities.Tenant issues can be slower to resolve due to longer lease terms and local landlord laws.Tax Notes:Standard rental deductions (depreciation, interest, taxes, insurance, repairs).Losses may not be deductible against W-2 unless you qualify for REPS (rare for 1 property).2.

Now, I have a portfolio of Short Term Rentals and Long Term Rentals.

We use it as a short-term rental property.

@Stephen Edsall what is a “ great outcome” in terms of cash on cash return in 2024?