All Forum Posts by: Lauren Keen Aumond

Hi Zander and Liz, our short term rentals are going well! 

Zander - we could probably run this remotely, however, for now we living in the main house on the property with 3 STRs in the back. The cleaners are here a few times per week. The future state will be for us to rent the whole main house as well. I don't think we will do room-by-room, although this is what the previous owner did. Sorry for the delay in my response.

Liz - I'd love to take a look at your analysis and presentation!

Thanks, Steven. Did you see that it is currently zoned single family, multiple units per parcel? I don't see how I could get it zoned anything other than that.

My husband and I bought a bed and breakfast in June for $285k that was being run as a commercial property in Tarpon Springs. We have not and will not renew any commercial licensing. There is a main home (built in 1901, 3/2.5, 1500 sf ish), a studio in-law suite (former 2-car garage, 520 sf), and a "she-shed" (120 sf, no kitchen, only bathroom).

When we bought it, the property appraised as a duplex (it also has a mobile home on it at the time, which was later removed). It appraised at $245k, then we contested and it appraised at $300k. The property use is "single family - multiple units per parcel" on the PCPAO site and the pervious owner had 25% homestead, we will have 100%. The footprint of the main house and the studio are on that website. The land use is "multi-fam <10 units."

The property has 2 electric meters: one for the top half of the main house, and one for the bottom half and the back units. The bottom meter is also connected to the jacuzzi (which we put in) and a 30 amp trailer hookup (from the mobile home, which we will use once the reno is done for our travel trailer). It only has one water meter.

Since we have put around $150k into the house (roof, structure, kitchen, floors, inside and outside paint, yard, fence), we would like to refinance and buy a (second) duplex with cash. Because of the appraisal/comp issue we had last time and due to a lower rate for an SFR, we want it to appraise as a single family home. Also, we are living in the house as our home. Our mortgage broker told us the two meters are a problem.

Finally, my questions:

1) Can we remove one meter? (Any ideas to process and cost would be appreciated.)

2) Is there any downside to removing the meter?

Thank you in advance. Sorry if not all info was relevant to the question at hand.

Thanks, guys.

We can't/won't remove the back buildings. The studio mother-in-law is a block structure separate from the main house, so we'd literally have to knock it down, which would make no sense. And if we leave that we might as well leave the air conditioned shed.

The zoning works for what we want to accomplish, supposedly it's the meter that's the issue right now.

My husband and I bought a bed and breakfast in June for $285k that was being run as a commercial property. We have not and will not renew any commercial licensing. There is a main home (built in 1901, 3/2.5, 1500 sf ish), a studio in-law suite (former 2-car garage, 520 sf), and a "she-shed" (120 sf, no kitchen, only bathroom).

When we bought it, the property appraised as a duplex (it also has a mobile home on it, which was removed). It appraised at $245k, then we contested and it appraised at $300k. The property use on the appraiser's site is "single family - multiple units per parcel" on our county's appraiser site and the pervious owner had 25% homestead, we will have 100%. The footprint of the main house and the studio are on that website. The land use is "multi-fam <10 units."

The property has 2 electric meters: one for the top half of the main house, and one for the bottom half and the back units. The bottom meter is also connected to the jacuzzi (which we put in) and a 30 amp trailer hookup (from the mobile home, which we will use once the reno is done for our travel trailer). It only has one water meter.

Since we have put around $150k into the house (roof, structure, kitchen, floors, inside and outside paint, yard, fence), we would like to refinance and buy a (second) duplex with cash. Because of the appraisal/comp issue we had last time and due to a lower rate for an SFR, we want it to appraise as a single family home. Also, we are living in the house as our home. Our mortgage broker told us the two meters are a problem.

Finally, my questions:

1) Can we remove one meter? (Any ideas to process and cost would be appreciated.)

2) Is there any downside to removing the meter? 

Thank you in advance. Sorry if not all info was relevant to the question at hand.

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $285,000
Cash invested: $150,000

We bought a Bed & Breakfast to house hack with vacation rentals.

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $285,000
Cash invested: $150,000

We bought a Bed & Breakfast to house hack with vacation rentals.

Congrats on the happy ending, Matt!

Thanks, Charles. Will do.

Hi all - are Beth Quigley Ferencsik and Ann Tohill still good realtors to talk to? Considering an out-of-state investment in Savannah area. Thanks!