It's easy to obtain, costs very little, and doesn't require extra, on-going effort to maintain.

And if you want SBA financing, they're going to require this anyway.

It comes with risks and requires diligent research. 

With an FHA loan, we’re required to live in the property as our primary residence for at least one year.

I want to provide a safe, structured living environment for individuals transitioning out of recovery or other challenging situations.I’m new to this process and was hoping for advice on the following:How to navigate zoning laws and permits in Montgomery for this type of setup.Licensing requirements for sober living or group homes.Strategies for finding residents or partnering with local organizations.Financial and operational tips for managing this type of property.I’ve heard zoning can be tricky and want to ensure I comply with all legal and safety requirements.

But agree for HML majority of the states as long as its commercial purpose no license required..

*The big asterisk on this entire statement. be aware many States have bedbug laws on the books now requiring the LL inspect and treat if there is an issue.

Create a simple spreadsheet or written list to compare the features of each and identify the ones that align with your requirements.

.- Most cities do NOT care if an owner lives in basement, but will not allow a tenant to unless baement has legal egress window.3) Check local statutes if any limitations on how many unrelated roommates are allowed.4) Check with local building dept to see if rental inspections and corresponding requirements.5) Local statutes allow locks on bedroom doors?

Interest rates are in the 6's right now so that heavily affects any new calculations for DSCR than when you bought the property.A hope would be that as your loan comes do and gets closer hopefully interest rates fall some making potential extra payment less required from lender.