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Updated about 5 years ago,
Newbie - need help with rental option questions
Any help anyone can provide would be greatly greatly appreciated.
Big fan of the podcasts and finally in a place to start investing. Have house hacked for years but not even sure if I did that optimally.
Here is my situation and concerns.
I have a split level. 3/2 upstairs and I created a 1/1 ( I can make it a 2/1) decent size 700-800 square foot apartment downstairs. It’s totally separate, kitchen, entrance, laundry room etc..
I always rented it to someone I knew with no lease and I just include all utilities and cable/internet.
Now full disclosure I’ve always been into the show income property and listening to Scott trench discuss house hacking. But to my knowledge never heard in depth Discussion-on how to really handle the following? ( I would ultimately like to move out and rent as two units to maximize rent)
Here we go:
1. Do I need to be zoned as a duplex?
2. Who cuts grass or do I charge for landscaping
3. 2 breaker boxes in the house but both are a mix of upstairs and down. Do I pay utilities or pay to somehow split it and meter it
4. House only has one hvac and one thermostat upstairs . ( I did hear the fruitful investor on BP YouTube say in some of his he leaves it with one HVAC) but how does that work?
5. Cable isn’t separated either?
6. I have a pool but the backyard is only accessed by upstairs unless you go through the gate?
To sum up. I basically have a 2 unit property but not a single utility is divided + 1 HVAC 1 water heater