Renting by the Room?

[Jenny Gremillion]

Hello BP, I'm considering buying a rental in my town that currently rents each room, "by the room". They have each tenant sign a 6 month or yearly lease. Cash flow will be around $500-$600 per month- this will be my highest cash flowing property yet. I only own single family homes so this approach will be new to me. Any advice/pitfalls/upsides to renting by the room like this, from your experience? Each room is currently renting for $600 and one of the tenants is kind of the "mother hen". Responsible for finding new tenants if one leaves, and she gets a slight discount on her rent. There are 4 BR and 2 Baths. Thanks in advance!! Jenny