Renting to 2 Families a Single Family Mather/Daughter style house

[Marcin G.]

In my area in NJ a single family house rented to one family usually does not cash flow.

I am thinking about buying a house from 2 retired brothers who live in single family house: one brother lives on the top floor and has his kitchen, bathroom, 3 bedrooms, etc. and the second has similar setup on the bottom floor. There is also separate entrances to each floor.

What things do I need to worry about if I would like to rent to 2 separate families?

My town does not have rent control, and the house is on a residential street where most people own their SF homes, and the street is zone for single family homes.

Can the municipalities not allow me to rent each floor separately? For example, by not giving me a CoO?

Last, I would like to sub meter electric and water. What solutions do you recommend and do I need to worry about building department not allowing me to do it?

Thanks!!!