They "live" there 2 days a week. http://www.mass.gov/eohhs/gov/departments/dph/programs/environmental-health/exposure-topics/lead/lead/massachusetts-lead-law-requirement.html

While this doesn't mean that you can never rent to families, you will never get a Lead Cert, you would instead get a Letter of Environmental Protection which will let everyone know there was illegal deleading, then the property was properly deleaded by a licensed deleader.

Aloha,For such a critical preventative maintenance item, even IF you can get tenants to properly change filters on a fairly regular basis, you should still have a pro, or very competent handy person, conduct an annual service at a minimum (depending on local environmental conditions).

I can't even imagine all the environmental restrictions that you may have there.

But you need to research zoning, utilities, environmental, and take into consideration things like topography...but if it's a flat lot, then you don't have to worry about topography.

I would assume someone renting a room is price conscious and wants a solid “this is what my housing costs per month” number. 

Here are some steps to name a few: survey, plats, checking existing utilities/upgrading service, easements, right-of-way improvements, Phase-1 Environmental Assessment (HazMat), demo permit, demo, design structure, plan check, submit for building permit, solicit contractor bids, etc.When you go to hire a contractor, make them provide you with a detailed Schedule of Values breakdown to show you what they have assumed in their bid for a specific line item.

Definitely something to be conscious of and to know whether it is a minor sub-$1000 expense or a major game changer.

Environmental issues?

Do you know the environmental impact of standing water in a commercial property?