All Forum Posts by: Glenna Wood

Modular vs stick built is completely site dependent. The savings on labor and material by being factory built are often offset by the transportation cost to get the house to the lot. The specifics and location of the lot will determine if an old house demo is cheaper than new lot site prep. Just because a house is present doesn't mean that the well and spectic are up to code and usable. There are no one size fits all answers. 

Couple of questions come to mind... Is it currently a legal operation? Communities I'm familiar with have zoning laws about the number of unrelated adults living in a single unit so it would possibly fall into a group living or boarding house so hotel regs might apply (fire code inspections, sprinkler systems, hotel permit, etc). The "over built" but "not up to code" seems an oxymoron?? For any property off the norm for the neighborhood, what's your exit strategy? Who's going to buy it from you? If I'm looking for a place to stay in Austin, why would I pick your place? What will make it most attractive to rent a room with 8 other guests present? Enough parking? HOA? You state the Austin regs that it must be owner occupied to rent on AirBnB, how is having an on site property manager meeting this?

I'm not in the Pensacola market but east of Panama City (the "Forgotten Coast") and on the Outer Banks adding a pool will likely double your gross. Just get good liability coverage and plan on the extra expanse for pool maintenance. I've never had any problems with guests using the pool or hot tub. Inside the house gets more wear and stupid damage. I second the kitchenette idea. 5-6' ft of wall space for a small frig, microwave and sink adds a nice pop to the game space. Friends have used Murphy beds in their lowest level for years and they still look and work great. Kids enjoy pyramid beds too.

For FL house 30 mins to the beach my priority would be adding a pool. Check the local building code for basement BR requirements, likely a closet, lockable door and egress window, so you plan appropriately. Add an outdoor shower if there isn't one since people will be schlepping to the beach. You didn't say if there is a septic tank or city hookup. Since there is a laundry room downstairs now adding a powder room to start would make a that space more usable. You have good options. Get data for several and see which match your budget for now. If long term you want to head toward 2 STRs, check the parking situation carefully.  Best wishes! 

Slipcovershop.com  

I've worked with Sally Childs at Sundance Realty in Mexico Beach for 20 plus years. Top notch. I started out in St George in 1992. Franklin County then started treating it as a cash cow and started taxing so heavily that I moved west to Gulf County (Cape San Las to Mexico Beach) in 2001. Best beaches in Florida. Enjoy the search and tell Sally I said Hello. 

Buy a multi family up to a quad with an owner occupied FHA loan now. MD gives you a break on closing costs (seller pays more by law) for first time home buyers. 740 credit score is good but not great. Any holes there? Get started now on the property search. Your future retired self will thank you.

So he wants to have his cake and eat it too. Hanging up sounds spot on as all I can think of is ways this could go south. Will be watching for pro responses on this one.

Gulf County, FL is an OZ. Includes Port St Joe, the Beaches, and Cape San Blas. 

On the Panhandle, check with the local county on building set backs and lot coverage allowed. This will determine how large your house, pool, driveway, garage footprint can be. I wouldn't build in FL w/o a pool especially if you are off the beach. If you're in a subdivision, reviewing the HOA docs is a must. If you are waterfront, check the CCL (coastal construction line) location. Also you'll need both county and state (DEP) permits for ocean front. Not a speedy process. Also check the flood maps. Inland bays and rivers can flood in a major storm.