Creative House Hack Tenant Ideas

[Leslie Beia]

Hi All! I just bought and started renovations on a 4 bed/3 bath house in Austin, TX. It was an extremely good deal but came up before I am quite ready to qualify for a conventional loan on a primary residence on a house that big. I really want to hold this house, not only because it's a perfect mid-term/2-year flip, but because selling in Austin sucks right now. I'm getting quotes on DSCR mortgages so I can start with that, refi into conventional when I'm qualified, then move in and start the 2 year clock.

In the meantime, I'd love to hear about any creative strategies you've used to rent the rooms. There is a huge family room on the 1st floor w/ a wet bar I'm converting to a kitchenette, then adding a shower to the lower 1/2 bath. So there's 4 bedrooms and 2 full bathrooms upstairs, and this 'studio' and a full bath downstairs (unfortunately you have to walk through the living room to get to the bathroom from the studio, so it's not totally private/self-contained). 

I heard recently about someone in Houston who is making great money renting exclusively to airline attendants who share rooms. I could combo mid- and short-term rent possibly, or get regular long-term renters but rent out 2 bedrooms and a bath together upstairs, a suite essentially, so that each renter has their own bath. I am doing a full renovation so the house will be gorgeous, all brand new, and top of market. Any other creative demographics/ideas you have heard of or utilize? The DSCR mortgage and taxes will be higher, so I need to max out the property as best I can. Thanks!