Subleasing Pros & Cons?

[Cyrus Baiz]

Good Day All,

I am currently dibble dabbling with the idea of renting out whole homes here in Southern California and subleasing the rooms out. Please put your input on whether or not this seems feasible, I need the good comments and the criticism so I know exactly what to expect in the worst case scenario. 

I am currently eyeing a rental property here in a great city with an ideal location close to San Diego and Los Angeles that is a 5 Bd 3 Ba 2,700 sqft beauty for $2,200 a month. In this area, a room rents for an easy 1,000-1,200 a month. If I were able to pitch the idea and get the Owner on board with my idea, what are the Pros & Cons of this? If every room rented out for $1,000 and the master for $1,200 minus the rent, that is a $3,000 a month cash flow. Now lets say I go through the formal renting process of credit checks, reference checks, former landlord checks, income verification and job verification on every prospective tenant. Also, lets say I have a 6 month reserve saved up in the case of a worst case scenario. Does this seem like something you would pull the trigger on if you had the opportunity?