House hacking SFH - Pros & cons

[Michele Z.]

Hey BPers,

We're moving into a market that doesn't really have Multi-family properties beyond the occasional 2+1 duplex which is an impossible arrangement for our family.  However, it is a market where there are a lot of students/working professionals/military/medical professionals coming in and out for short-term stints so...

We're considering doing a semi-luxury house hack with a 4 or 5 bedroom SFH. Ideally with a master suite on the main floor and other bedrooms upstairs. Most often this means you have at least 2 bedrooms sharing a bathroom.

I'd love to hear from people who have actually lived in this type of situation, where you managed it as short-term rentals or have year-long leases.I just want to get a feel for the pros & cons of your experience. What do you know now that you wish you knew before starting out? 

Did you mange it as a rental intentional community or a live-in AirB&B? Did you have problems getting people who were willing to share a bedroom? Are there any tips and tricks that you'd recommend?

Also, how did the transition work when you eventually left the house and started renting out all the bedrooms? We are only able to occupy this property for one year.

Thanks!