To do this, you would use the underwriting and loan requirements provided by your loan purchaser, which may or may not align with your current criteria.

Fully understand what they can do to you and what is required.

But, it's a unique strategy that requires more knowledge than expected.

It’s not uncommon to rent by the room to individuals, but it requires some careful management.

The prices I listed was to rent the garage as a garage, no bathroom required.  

The location you're referencing will likely require substantial rehab capital.There may be some out of state investor who hears NC and throws their money at a portfolio, but this feels like it'd need to be cash transaction.

For tax purposes, it’s about whether you pass the 750-hour rule, the 50% rule, and meet the material participation requirements.

I have researched the Airbnb avenue in terms of what’s required, etc.

It requires skills to maximize returns.  

Fannie/Freddie now require 12 months of seasoning for a conventional cash out refi in order to use the appraised value.