Living in a “Rent By The Room”

[Chandler Martinez]

I recently helped an client get rid of some property she inherited and she wanted me to purchase her mother’s house as well. I’m getting her mother’s property 65 cents on the dollar. I could fha this property and rent by the room while I do some lipstick throughout the common areas of the house or simply wholesale the contract.

Now my question, while I’m rehabbing what are your thoughts regarding a month to month rental agreement for one or two individuals. It is a 4 bed 2 bath. Does anyone have experience doing this with lipstick properties?