Student Rentals- Adding Bedrooms to SFR to increase Rents

[Eamon Sullivan]

Hey Guys. 

I am looking at a house in a big college town in the SE. Typically students pay rent by the bedroom. I am trying to capitalize on this by adding bedrooms to increase revenue. For instance, removing dining rooms and reducing living rooms. Almost, making the SFR into a small MFR.

What issues might I run into with permits? Zoning? Fire Code? Tenant Issues? 

Does anyone have any experience adding more bedrooms to SFR to increase rents?

Thanks!!!