Single Family House Hack Roommate Approach

[Jeremy Krueger]

Hi everyone, I’m looking to buy my first house hack in St. Louis, MO and was originally only looking at duplexes, but seeing as the area I want to be in seems to have more options in the price I’m looking at for single family homes as well, I’m curious if anyone has suggestions on how to approach land lording with roommates? Has anyone set it up renting out rooms with a standard lease so you can charge fees, evict them out of the room if they don’t pay etc? Eventually I will rent it out to a family where they rent the whole property, but I’m not sure what the best way to approach land lording with roommates and operating it like a business is (which I want to do from the get go). Any experiences or suggestions are appreciated here, thanks!

[Kyle Eckert]

@Jeremy Krueger  The lawyer option is a good one, and very thorough.  You could also call landlords who operator student housing and see how they do it.  A few calls and you could get a feel for how a multitude of landlords run their operation.