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Updated about 4 years ago,
Rooming House- Too many potential problems?
Hi all, first post. My wife and I have found wonderful information on this site and we're hoping to get some insight.
We already have a handful of rental properties- one self managed and the others with property managers. So I'd say we are experienced, but nowhere near experts, as we both have full time jobs and have been lucky that things have run quite smoothly, without surprise learning opportunities. As of now though, I'm stay at home dadding, so I'm my more free for management.
We have an eye on house to self manage with 6 bedrooms- each rented individually (as opposed to a master lease with sub leases). The upside is higher income and any vacancy is a very small about of money lost, but we're worried there are a number of downsides beyond the obvious.
Anyone with experience/ thoughts?
Thanks.