House Hacking Converted Basement - LTR or STR?

[Christina Lanier]

New member to the BP community looking to buy in the Norfolk VA area and looking for any insight from other investors in the area. Specifically, I'm hoping to turn the basement of a split level ranch into a studio or 1 bed 1 bath apartment that could ideally be rented on Furnished Finder or on AirBnB. The issue I'm running into is I can't seem to figure out if Norfolk VA allows renting out just a part of your home, while the owner occupies the rest. I know Norfolk allows "homestays" of less than 30 days, but what if the renter stays longer than 30 days? If anyone's implemented a househacking strategy like this, I'd love to hear your thoughts. Thanks!

[Bradley Dosch]

Hey Christina, that's an awesome idea and something you should definitely do. In terms of finding local laws, I'd try finding someone in the city hall who can answer your questions.