@Monica3206
Be VERY cautious about purchasing a property BEFORE doing thorough research.
1. What are the STR rental licensing and restrictions in the area you are considering? If you are restricted to 30+night stays only, be sure you have enough cash flow, as Airbnb delays payments on 28+stays if you are a new Host.
2. What is the current market saturation and potential rental income? (use AirDNA or similar for market analysis)
3. Are there any HOA restrictions that would prevent you from using the property as a STR?
4. Will you be living nearby or planning on hosting remotely? If remote, you'll need cleaners, maintenance, pest control and probably a local Co Host to help manage. You'll also need smart home devices (smartlock, WiFi thermostat, security cameras, etc.)
5. Was the property previously rented on a STR platform? If so, you can ask for previous year's rental income from the seller
6. Be advised numerous Hosts reporting that when they purchased a property previously rented on Airbnb, their new listing was suspended as a "duplicate" listing under Airbnb's Circumvention Policy (especially if the previous listing had issues, but Airbnb seems to be automatically suspending the new listing even if there weren't any issues with the previous listing). This is because it is using a bot to search listings for duplicates and automatically suspending them. It can take months (if at all) to get the new listing suspension lifted.
