Owner Occupy then Rent

[J.C. Campbell]

Hello All,

My wife and I are trying to decide whether to pull the trigger on offering on a single family property. It will not be a house hack from the get-go but we'd like to make it into one by finishing the loft space above the detached garage. This will be a significant project including running plumbing from the house or road, insulation, drywall, electrical, and finishes. The hope is that we can either STR or LTR this space, and possibly rent the rest of the house out later if we want to move out. It's in a desirable area with good schools and walkable to a nice downtown (Hopkins). I am trying to think of how to approach this and weigh the cost benefit of finishing this space. Would welcome any thoughts, ideas, or similar experiences.