All Forum Posts by: Ian V.

I knew there were some problems with it, but seems like a no-go. I’m assuming a rental management company wouldn’t go along with something like this to work as the referee? Plus, I would vet the tenants with a background check, application, etc to weed out murderers. 

 So basically my best options are to keep things simple: rent out the property as a whole in the other state or buy a house in my state and just get some roommates?

Hello,

I am new to this whole landlording world and am looking for an answer to an idea I had. I wish to stay in my local city. I am considering buying a house in another state that is cheaper than my market to rent out. However, the ROI on the cheaper house seems kinda low if I rent out the property as a whole. That said, it looks like if I rent out the bedrooms separately, I can earn more for the property overall (500-600 per bedroom vs 800-900 for the whole house.) If I rent out three bedrooms at 600 each, that is double what I would be getting.

However, it seems that renting out rooms separately isn't permitted unless you actively live there with the property as a primary residence (not sure on this point). What if I move to make the house my primary residence, move in my tenants, and then move back to my home state to rent an apartment after x amount of months (not sure how long I would need to live there every year)? There probably is some problem with this, but I am just unsure what it is and if there is a solution to it. I'd rather not find out the hard way. Has anyone done something like this?