@Calvin PringlesThank you for a very helpful article! I'm looking to house hack, renting out open bedrooms and have a few questions pertaining to that strategy if you and anyone else can help answer!
1). What average percentage are ADU's in this area increasing the SFH property values in the St. Pete area? I'm tryin to understand if the percentage ARV based on the cost to build the ADU($100K for easy math), so a property value increase of $20K or is it based on the SFH as well. So, if the SFH was purchased for $400K and the ADU cost is $100K is it in fact raising the property value by $100K?
2). Also, would you advise of stearing clear of any and all flood zones due to the outrageous flood insurance costs if looking to house hack? Or is that a mute concern, since the new phasing of everyone having to adopt flood insurance in Pinellas county by 2027?
3). Do you think it's a better buy, buying close to downtown St. Pete in an older/rougher neighborhood, but very close to downtown(less than 5min drive) or a little bit nicer of a neighborhood, but further away(15-20min drive)? My thoughts are if looking to rent on a bedroom basis, it is most likely going to be to single adults, whom I would like opt to live as close to downtown St. Pete as possible?
4). Does anyone have any solid insight into the historic gas plant district redevelopment of the Tropicana area? Do you think it's actually going to get passed this time by city council in May?
Any thoughts would be greatly appreciated, thank you!
