I don't have much, it's just my owner occupied 3bd 2bth SFH renting out two rooms generating a total income of 1400/mo.

With IB off, we are still at 75% occupancy, so I guess there is room for 25% improvement.  

The reason I don't purchase new construction is that there is no room for value add, and from a pure cashflow perspective, it's harder to make the numbers work.That's why I started looking more towards multifamily.

We typically stay at my parent's house since they have the room for all of us.

We renovated the upstairs with included: new kitchen countertops and backsplash, adding a half bath and laundry room to the main floor, refinishing the hardwood floors, painting everything, refreshing the main and master bathrooms (paint, new fixtures, regrouting tub/shower surrounds).

She also found that ALL the entry doors to the property were unlocked, the AC was on (set to 71 degrees), and the lights were on in the garage and a couple of rooms.

But you’re right, that’s about the average but depending on how nice the home is, whether each resident gets a private room, and the level of care/specialization, will all factor in! 

First, whether you are renting or selling these are two rooms sellers and tenants place greater emphasis on when selecting their housing.

That being said, I have detailed measurements and pictures of every angle inside every room, and to me that’s worth more than seeing a place in person since I do plenty remote renovations.

Many of us started out using this strategy, and have continued to implement it with numerous nuances: House Hacking with an STR in your basement, renting by room in a SFH, and most traditionally in a small multifamily property where you take one unit to yourself.