BRRRR - Buy, Rehab, Rent, Refinance, Repeat
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Garage Conversion option
Hello BP family! Newbie here and looking for some insights..
we are actively looking for the properties to househack then BRRR, we plan to rent as midterm. I have this 2 properties in Orlando we looking at. Both would generate the same income. First will be a turn key with a garage already converted ADU with separate entrance, ~1700 sqft. All we need to add is a kitchenette and this is about 4-5 miles away from 2 major hospitals.
The second one is a 2000 sqft with 2 garage. The main house itself can be converted into 2 living space, and the garage can be converted too. Needs rehab It is about ~8-12 miles away from 2 major hospital, but is about 5 min away near to a 300+ bed hospital..
What would be a better deal?
And if i choose the latter, any idea how much do i need to prepare to covert 20x21 garage into an ADU in Orlando?
Thanks everyone!