I'd have them sign my own lease on renewal and I'd make sure I had enough information on them so I can go after them if a legal issue arises such as employer and other similar data. 

This will heavily influence the best strategy for you.

I’d like to buy the place, renovate it, and then live in it for a few years as my primary while renting out the 2/1, and then ultimately selling or renting out the main house too. wondering what the best purchase strategy would be considering I don’t have the full purchase price in cash on hand?

For instance (numbers are not exact), if I put down 50K for downpayment, aggressive strategy may return $300/month (after mortgage payment, fees, etc.,) and normal strategy may return $200/month, and passive strategy may return $150/month.

What types of strategies are you interested in?

Hey everyone,I’m curious to know what strategies have been most effective for you when it comes to finding consistent, high-quality deals.  

Both are strategies, it just depends on what you’re looking for now versus what you’re looking for later.

With all this said, to answer your question of how you'd value this for a sale, I'd get a STR specific broker that's able to market your property as a turnkey STR with data on the rents, figures, etc.

I’m based in Colorado and have been investing here since early 2021, focusing on strategies like house hacking, rent-by-the-room setups, and flips.

Can be a good strategy, but my understanding is BRRRR is generally dependent on refinancing and pulling back that cash invested to repeat the next one