Buying and renting out neighboring house

[Brian Gray]

Anyone bought a house next door to their primary house and rented it out?  We've got a foreclosure opportunity on a neighboring house (back side neighbor).  Neighborhood is $300k range homes.  Home needs a couple grand in repair is all.  $192,000.  Rents (when available in the area) are $1900 - $2400.

Will it be hard finding a tenant due to the fact that we live next door?  What do renters think about that scenario?

If I can keep my all-in costs at $200k....this seems like a good opportunity considering the neighborhood.  Lots of new homes going up, driving up the value across the board.