The ability to turn single-family lots into duplexes or even split lots for separate units can significantly boost rental income and property value.

The only time I'd say it's an okay idea is if either: The area you're investing in is expecting so much appreciation that you will easily profit off that (watch out for mortgage interest though...the appreciation needs to be higher than what you pay in that and expenses to make it profitable)You have some specific reason for wanting to do it- family ties, future home, major long-term hold, etc.Maybe I'm forgetting another one, but those two are all I have for now...

Investment Info:Single-family residence buy & hold investment.

I don't want the opportunity to pass so I'm reaching out to family and friends who would potentially want to invest too.

If it does go to probate, hopefully your brothers and you can amicably go the informal route vs formal (I've worked with families in both when buying properties out of probate and informal is FAR easier).Since there's no debt on the house, maybe you could sell with financing or maybe you could even buy out your brothers with financing -- that way you maintain ownership and just pay them a monthly amount.

Consider house hacking when rates and prices are a little more balanced with reality.I would prefer a duplex/triplex but I know getting into a single family home and renting out the rooms is more accessible .

That said, tenants sometimes push for alternative solutions, as in your case.Here’s what I’d suggest:Broaden Your Marketing ApproachFebruary and March can be slow months for leasing in family-oriented communities, but it’s not impossible.

It's a 4 family, I just don't want that kind of transactional relationship with any tenants.

It is an awesome system and does everything for single and multi family management, makes our difficult job so much easier.

I’m weighing two options for our housing situation and would greatly appreciate your advice, given the complexities involved.1.Renovate and Buy Another Property•Invest to renovate our current home adding a bedroom to the house given our family outgrew the house.