Considering Renting by the Room - Good or Bad Idea

[Kesete Thompkins]

I'm considering converting one of my SFH (4bd/1bth) rentals into a rent-by-the-room situation. All of my other properties have one family in them, however I wanted to consider the possibility of using this new deal to rent by the room. I have listened to various people speak on the topic but I would like the thoughts from people who currently have properties where they are using this strategy. Here are my questions:

1. Outside of the increase in monthly revenue, what are the pros to renting by the room?

2. In understanding the cons around differing personalities, how did you handle those potential issues?

3. In the homes that you have used this strategy, what was the bedroom/bathroom configuration? 

4. Any other pieces of advice that you are willing to share would be appreciated. 

Thank you in advance for your time and expertise.