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Updated almost 8 years ago,
Buying a SFR to owner occupy then rent out of state?
I'm living in Pittsburgh for the next year or so until I am relocated for work. I have been hunting around for a 2-4 unit in a few particular neighborhoods but there isn't too much product around. A SFR just came on market which looks like a great deal (it needs no work done and it's price reasonably @ 190k.). It's a 4 bed 2 bath house where each bedroom could easily be rented $650 so I would easily cover my mortgage. My current living situation is with someone who bought a house and is renting to me and another few roommates.
I've been wanting a 2-4 unit since it would be easier to rent it as an out of state owner. I'm not sure how I should be thinking about renting a SFR out of state though.
The neighborhood is one of the most popular neighborhoods for college students and young adults. It's walking distance to nightlife/grocers/fitness/retail but it's farther away from the higher drunken area.
I'm thinking you'd most likely be looking at students to rent a 4Bd house out of state, unless you were able to find a family or mix of young adults to rent the space. I'd like to pick up a 2-4 unit, but this is a house I think is worth looking into.