Finishing a basement to live in - househacking

[Jennifer T.]

Hi everyone,

This is my first time posting here. I have a question about the possibilty of finishing a basement/garage and turning it into a livable space. I recently bought a duplex. The original plan was to live in one unit (as requird by the loan terms) for one year and rent out the other, then move & rent both units after the 1 year requirement (currently living with relatives). The other day I had the grand idea that if we converted the basement into a livable space, we could keep both tenants in their apartments and collect both rents while still following the FHA requirment to live at the property for the first year. My questions are:

1. Since the basement would be used more so for us living in the unit and not rental income, do the same code/zoning requirements apply?

2. Has anyone in the Philadelphia area done this successfully? (get the basement legally zoned to be a seperate unit)

3. Any advice in general and/or resources for this specific situation

Thanks!