House Hacking by Creating Multiple Units from a Single Family

[Jessica Abou]

I'm struggling to find information on my vision for my next real estate investment. I'd like to buy a large single family pool home in South FL close to the beach to live in. My strategy is to create, ideally, two 1/1 units with exterior entrances in which I can rent out and live in the main house, maybe a 2/2. I eventually would like to get an RV with hookups to park on the side of the house and rent that, as well. Later, I'd move and be able to rent the whole thing as a STR or MTR. I will also have my current personal home, that I can rent out as a LTR. My goal is to have every property work for me. If you've done this, I'd love to hear from you? Are there some hurdles I haven't thought about? Will this hurt the resale value later? Are there reasons this isn't a good idea?

I know I'd need enough parking for every unit. All units would share utilities, as a single family home. What am I not thinking about? I don't hear this strategy discussed often. I personally love hosting and think it would be amazing to have the ability to be more hands on with my rental property. I would enjoy meeting my guests and maybe even cleaning my own units, when possible. My current STR is a cabin in NE GA 12 hours away, so its a real challenge.

[Ray Hage]

@Jessica Abou I have done this exact house-hack with my SFH in Fort Lauderdale. What you will have to do is find the right house for you that also has the right lay out. In my case, all I needed to add was 1 internal door to easily separate the house. I had a tenant for about 2.5 years but he moved out last month and I will find another. Currently, looking at a nice RV/Trailer to have someone rent it and live on the property. I could give some more tips if needed but it sounds like you are pretty much got it figured out.

Regarding your specific questions. One hurdle is noise and being respectful like any shared home situation. I don't think it will hurt my resale value (not that I plan to sell and this potentially could be the last house I buy for myself). If you want to connect, we can talk further.