Looking to purchase my first House hack in Atlanta, tips?

[Katlynn Teague]

Good Morning BP!

I am in the market to purchase my first house hack here in Atlanta. 

The first deal I came across was a quad in Norcross, with a purchase price of $700k. The units needed about $20k each to get them up to 2023 standards for rent. Each unit is a 4 bed 3 bath, all units are currently rented at $1,200. However, when I pulled comps I was seeing 2 bed 2 baths more updated being rented at $1,400-1,600. So my thought was I could be able to get more for these units having two more bedrooms and another full bath. Could also padsplit one of the units and make more.  However, the area of Norcross this property is in, is not the most favorable. 

With that being said, I am still on the hunt for a similar property in a safer area, with a return between 8-10%. 

Do you have any tips?