Renting to students by room (Long island)

[Michael Toba]

Hey everyone!

I have been a lurker at bigger pockets for a few months now so I am excited to take the plunge and join this wonderful community! I was hoping I could get some advice on how I should go about my first house hack. I recently got hired at a new job located close to Stony Brook University and online I have found many 4 room/2 bath homes that are not only reasonably priced but also close to the campus. My plan is to rent each room to grad students and to live in one of the rooms. Taking into consideration the high homeowners tax rates in Long island and mortgage payments, I expect the rent revenue from each room to cash flow positive at $500 -$700/month.

-Is anyone here familiar with the occupancy ordinances in Suffolk county?

-For those that have personally done something similar, would it be weird being in such close quarters with tenants? I just feel like I would turn off a lot of potential tenants.

-I know appreciation is the icing on the cake but I'm noticing that a lot of house in Long island do not appreciate. why is this the case?

-