Hey guys so I'm under contract with my very first rental and I am worried. Its a single family home in the south Florida area selling at 239k. I found the price to be cheap considering everything is around 300k or more but I haven't found anything wrong with it yet (I have inspections this Thursday). Its a 3/1 and it has a large room addition in the back which could be converted to a 1/1 if I install a bathroom. The house is 1,777 sq ft. I am putting 5% down. Should I add the bathroom and rent that back part like a studio? Rent the whole house as a 4/2? Any advice overall? lol thanks I greatly appreciate any advice. I've saved so much and worked so hard the last 3 years I just wanna make the right move. I could put down 20% but then i'd be left with nothing in my savings.
