Someone with a voucher may still want to lease your unit even if the rates are above market because they are not paying. 

Are you allowed to lease the unit?

I just had my first tenants move into my property on the 1st, when doing the final walkthrough I reminded them that there is no garbage disposal in the kitchen, I did mention this to them before they signed the lease.

I’d love to hear some perspectives from more experienced investors on what you think about the info below:$75k for a 5bd 3 ba manufactured home that rents out each room for $500/monthPros:Reliable tenant paymentsCheap purchase price relative to income generatedPotential for ~16% CoC ROICons:Long distance investment (requires property manager)Month-to-month leases per bedroom (& no deposits collected)Located in Utica, MS – not a thriving market for rentalsManufactured home – not sure this type of home will build equityUnsure what kind of tenants live here Hey Molly!

(They were leases with escalation clauses without a buyout option.)

Most HOAs do allow rentals but you may need to obtain a rental permit or adhear to certain lease provisions.Feel free to PM me if you have any questions - would be happy to chat / give guidance

I have not looked at apartments, but the condos I have researched have a minimum 30-day lease requirement, so be aware of that.One concern I have with short-term rentals is that they are dependent upon tourism.

My husband is currently renting an apartment, for which the lease expires in a few months.

Student housing tips include clear lease terms, property durability, turnover, communication, market trends, and financial stability.Good luck!

Review their lease agreement and addenda.