Hello, I want to do medium and long-term rentals. I would like to use this property (165 Anderson Avenue, Atlanta, GA) as an example: https://www.zillow.com/homedet...
This is a duplex, with 4 bedrooms and 3 baths on each side. I am thinking about renting one side to 1 person/family and then living in the other side and renting 2 of the rooms to "bodies" (people with good income and credit profile) and then renting 1 room to a person interested in forming a spiritual intentional community. And then, for legal reasons, I am in 1 room of the other side as well.
The first issue is that the Vertex 42 rental income calculator does not allow you to do hybrid rental models, so you have to figure out the total rent yourself. I used Zillow's rent estimate and came out with $2200 but I do not think they know there are 2 units here. So presuming that I rent out 1 side of the duplex for $2,200 (tenant pays utilities) then each room for $600 including all utilities on the other side. Then I have $3,800 gross income each month. So I used the cashflow calculator to say that I have 1 unit bringing in $3,800.
So here is my cashflow calculator - https://docs.google.com/spread...
What do you think about my analysis of this property?
