Hey everyone,
First post here and not sure if this is the right section to post to but I wanted to ask for any advice on my current situation. For some background info, I'm a 21 year old college student and an aspiring real estate investor. This was originally my grandparents house which they owned for most of their lives and only recently (about a year or so ago) they gave the house to my parents and there is no mortgage on the property. Me, my mom, and my siblings have all lived here with my grandparents for their whole lives so the property has not been sold in a very long time. The thing about our house is that it has a unique layout that I only just realized makes it (at least in my eyes) a perfect rental property. It is a two story house, no basement, both floors have their own kitchen, bathroom, and 3 bedrooms. In addition to this, we have a detached garage behind the house that has an upper level that has its own kitchen, 1 bedroom, and 1 bathroom. It's an old property (1962 according to realtor.com) and I have no idea what is even permitted or not permitted. My parents were planning to buy their own house in a different county and sell this one. Should I suggest the possibility of renting it out? I don't have any experience in real estate investing yet but I feel it could be potentially really good for my parents, especially since they aren't even paying a mortgage on it.
