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.