Advice for rental in HPR

[Sam Robbins]

Hi,

I’m Sam, a new real estate investor in Nashville - I got my first property this pas year, just south of the airport. It’s an attached HPR, basically a duplex that is zoned as two single family homes. I own one half, 3 bed 3 bath, and I’m currently living in and renovating it with plans to rent down the line. It’s in pretty good shape at this point, rentable.

I travel a lot for work, and a friend gave me the idea to do a short term rental as a one bedroom, locking all of my stuff in the other bedroom and office - I applied today and was denied because I don’t own both sides of my HPR, even though I have written permission from the owner of the other half…. It’s a completely ridiculous and obscure law to me, and definitely ruined my day!

But anyways, I have a stretch where I’ll be gone for several months - mid July through mid October, possibly stretching to the end of the year, and I’m wondering if anyone has any ideas beyond just a normal rental - traveling nurse, etc. that might be good in Nashville. It just seems like a good opportunity to try something while I’m traveling so much. Any help is much appreciated - obviously a short term rental would be ideal, but it looks like thats out the question for now. 

Thanks,

Sam

[Luka Milicevic]

@Sam Robbins

You definitely can't do an STR with an HPR. Have to own both sides! It's actually the best strategy in the Nashville area if you can build an HPR yourself and own both, STR the other side.

You can house hack the other rooms. That's what I would do in your situation. You can also try the travelling nurses route, a lot of them are looking for low cost housing when in town. 

You could do a full MTR during the period you're gone, but for me the best and easiest way to go would be to just rent the other rooms in the house as a LTR.