We have a walkout basement so I'd like to develop it soon and rent it out on Airbnb. There are a few listings in my area (some with 40+ reviews) and they are currently building lots of hotels. I think the main source of travellers is sport tournaments and families coming to them so having a two bedroom unit would be helpful.
As we'd want the basement for ourselves in a couple years I'd likely only out in a kitchenette/bar area with sink, bar fridge, microwave and maybe a hot plate/stovetop type thing. Do you think we could get decent rentals without a full kitchen? If we could get good rental income I'd lean to doing it sooner rather than later as we'll want it for ourselves in about 3-5 years.
We have enough cash to pay for it, but we also need to do landscaping (new house) and ideally buy a minivan as I'm expecting our 3rd in June. I'm really trying to convince DH to forget the minivan for a year or two and suck it up with our old Corolla where we could fit 3 car seats. Basically we can afford two projects without emptying out our TFSA (longer term savings in investments). Even with low occupancy (just weekends) would provide us with some income to pay off the basement Reno we'd be doing anyways in a couple of years.