Although it's not a strict rule, this can serve as a useful guide.A frequent goal for house hacking is to have the rental revenue from the extra units completely cover your mortgage payment.

Zip code at least.

Just to add on to what @John Warren and @Sarita Scherpereel said security deposit rules in Chicago are very very strict.

The county put a homestead on half of my property, but this also re-categorized my property to State Code: A1 instead of B2 for 2021.

Mid-Stay Rentals (MTR) offer steady money with leases from 1 to 6 months but with okay cash chances and strict rules.

Code).and a few others.

I understand the capital region, the Adirondack region, and Western New York (Rochester and Buffalo) have their strengths and weaknesses, but I'm going to focus on this central part of the state.Binghamton is my favorite investment market for a few reasons, but it's not for everyone.STRENGTHS-  low prices-  blue collar overall, meaning lots of resources for contractors-  growing university, consistently growing rents-  I expect to see an actual 10% cap rate here, higher if the property needs work-  compared to downstate, permitting, evictions, etc. are simple and quick-  no code compliance inspections required on existing multifamiliesWEAKNESSES-  no. natural. appreciation.

Just keep in mind zoning and code requirements. zoning is usually not a problem, but when a commercial is converted to residential current codes must be met which usually means two stair towers, fire separations, and sprinklers.PS: Loopnet is what I used to find my warehouse.

Then you're able to put in a city or zip code and then a radius that you'd like to search within.Hopefully this helps!

Much is going to depend on the amount of the house that will be used and allocated strictly for business.