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Updated almost 8 years ago, 01/21/2017
House hacking as you rehab? Wisdom/tips appreciated!
Hey guys, right now my plan is to get a 3-4 bedroom house that needs maybe 10-20k in mostly cosmetic upgrades/repairs. This will be my first house and I plan on living in it for ~2 years. Thus, after I buy it I was hoping to immediately seek out 2-3 roommates to house hack as I rehab the house.
Here's my question: have any of you run into trouble when rehabbing a house when you have tenants/people living in the house?
Obviously if a bedroom needs some serious rehab I'd do that first before renting it out, but I'm wondering if doing something like rehabbing the kitchen with people living there is a bad idea. Is there a liability risk? Other things I should be aware of before I attempt this? As my first house I feel like rehab might take me a while, this is why I'm planning it this way.
Thanks to anyone who can offer wisdom about house hacking/renovating a house with tenants actively living there.