Can I house hack on Airbnb.
I bought a house in Lithia Springs, GA for $330,000 and my mortgage is about $2,600/month.
Current setup:
One room rented to my cousin: $1,100/month
Two additional rooms listed on Airbnb:
Master averages ~$1,300/month
Smaller bedroom averages ~$1,000/month
Total income is around $3,400/month.
I live in the home and currently stay in the basement, but I’m considering renting the basement out as well and moving into a finished room I added in the garage. That would bring me to 4 rented rooms total.
Plan going forward:
I will have lived in the home for 12+ months by October
At that point, I’m considering buying another property with a low down primary residence loan
Move into the new property and repeat the same strategy
My question:
From a mortgage/occupancy standpoint, is this a standard/allowed approach?
Specifically, after fulfilling the 1-year occupancy requirement, can you:
Move out
Rent the entire property (mix of Airbnb + longer-term tenants)
Then purchase another primary residence
Also open to any advice from others running similar Airbnb + room rental setups.
Thanks!