Converting a 2/1 into a 4/2

[Daniel Pollack]

I bought a 2/1 as a live in flip with the plan of LTR after completing the renovation and moving to a new live in flip. The basement was completely empty with just a work bench down there. I am adding 2 bedrooms a bathroom, family room and a small laundry room to the basement. 

It is located 3-10 miles away from multiple hospitals and corporate headquarters so I was kicking around the Idea of mid term rental for corporate or nurses. I was also thinking those will mostly be single people who have no need for a 4 bed house. Sure they could use one room as an office but it just seems pretty inefficient. Has anyone had experience or success doing mid term rentals with 4 beds?

Editing to add. It has a backdoor into the kitchen that goes directly into the basement stairs, so it could potentially be used as a pseudo duplex but with a shared kitchen with each floor acting as a 1bed with office 

[Bonnie Low]

Your 4/2 set up isn't ideal for attracting travel medical professionals (it's a much broader field than just nurses). While some do rent-by-room, most want their own private space and don't want shared spaces like kitchens and living rooms. The need for peace and quiet in their down time is very important to these individuals working long shifts. It sounds like you have a viable option if you rent it out as an LTR. Depending on the neighborhood class and the condition of the home and its amenities, you could also potentially market to relocations and people displaced by emergencies as they tend to have families and are looking for quality living spaces. They tend to pay a premium so this could be a really good option if your property is suited to it. It won't be cheap to furnish a 4/2, particularly in a manner that will make your space stand out and keep it full. While it used to be that furnished homes were known for second hand amenities, the MTR space is evolving rapidly and renter expectations are significantly higher than they were just a couple of years ago. You mentioned that it's near a couple of corporate headquarters. Reach out to their HR departments to see if they need housing for new employees moving into the area. You might find a good connection there and it's the kind of niche where once you're connected, you have a leg up. Good luck to you!