Renting a property by the room?

[Parker D.]

Hello Everyone! 

I have a property that I am currently house hacking in St Paul MN. I am looking to move out in the coming months and am thinking about renting the property by the room.

The property is a 4bd 1 Bath SFH with 4 almost identical rooms located in the Summit - University neighborhood in St Paul. We do have room to add another half bath which I plan to add before doing renting it out.

I am wondering if anyone on the forums does this and what your experience has been? What are the pros and cons? What are some things to look out for and systems you have put in place?

Happy investing,

Parker