Hello,
My wife and I are looking to buy our first investment property and we’d love to get the advice of the BiggerPockets community.
We found a one acre property in a great location (lots of jobs and great schools) with two houses on it, but both houses are 2-bedroom and 1-bathroom houses in a community compromised mainly of young families. The first house actually has 1.5 bathrooms (the half bathroom is located in the unfinished basement) and covers a total area of 1450 square feet. The second house (an Accessory Dwelling Unit) is 644 square feet and includes a garage on the first level and a living space above it comprising 2 bedrooms and 1.5 bathrooms (with the half bathroom situated within the garage).
We're in the process of determining whether the ADU can be legally rented out in Baltimore County.
Our primary questions are:
1. Are two bedroom and one bathroom houses not very desirable/rentable? Both my wife and I are struggling to think of the kind of people in the area who would want to rent a 1,450 square foot house that only has two bedrooms and one bathroom (the half bath in the unfinished basement does not even look usable—and even if we finished it up, its hard to imagine a renter would want to go downstairs into an unfinished basement just to use a nice toilet).
2. The ADU was built as an in-laws quarters by the current owner, but we would want to rent it out separately. Any particular advice or homework we should do to make sure this is feasible and judicious aside from ensuring zoning laws will allow this?
3. The property includes a screened porch built on a solid foundation. Would converting this space into a full bathroom be a worthwhile investment?
As newcomers to property investment, we greatly value any guidance or feedback you can provide, including any pertinent questions we might not have considered.
Thank you!
David
