I’ve been around real estate for decades, and I read in The Economist once that in lively markets like Charlotte, folks will pay a premium for a comfortable room if you’re near major employers.A friend of mine tried something similar out in Austin a while back.. he’d inherited a 4-bedroom property and split it into individual room rentals.

While leasing is the front door to maintaining a property’s occupancy, renewing tenants is the back door.

Right now, you have a property with a great equity position, solid cash flow, and cheap debt (interest rate is low). 

@Shannon Vistisen I would say this, unless you know everything that is tied to that entity, buy the property alone.

Check with your municipality about how property taxes will change when you buy the place.

The property, though is not beach front, nor does it has ocean view, is just a short drive from some of the best beaches in the west, which are great for surfing, snorkeling, SCUBA diving.

I know property managers in every state who use non-refundable application fees and it is the standard for every class of property and applicant.

The property, though is not beach front, nor does it has ocean view, is just a short drive from some of the best beaches in the west, which are great for surfing, snorkeling, SCUBA diving.In the 1.21 acres there is a main single family home (4 br) which was divided in two sections one of which is being rented.

So the best solution is to buy a house needing extensive renovation for cheap and use that discount to change the layout when you bring it up to living standards. 

@Treza Edwards "I am reading the Rental Property Investing book and implementing the method that focuses on cash flow and that strategy states you need to have $300 cash flow per month, per property.