Quote from @Robyn Henderson: My family's 3 unit prewar building in Brooklyn recently had plumbing issues and I'm debating renovating each of the bathrooms.

We also updated the entire flooring, renovated the kitchen with new appliances, overhauled both bathrooms, and added new washer and dryer units.

This criteria is for 1-4 and 5-8 unit programs.

Principal balance currently at 314kProperty Details: It's essentially a "2-in-1" property, with the main unit rented out for $1,900/month and an attached ADU bringing in an additional $1,200/month.

A little more info, I am doing a full cosmetic rehab on one of the units and a lighter one on the other but I am assuming if I am going to split the utilities I should do that prior to any rehab. 

I am currently self managing 8 units in the Chicago SW side predominantly in the Lawndale and Oak Park area a mix of FM and section 8 tenants.

@Kyle Cross you claim to know a lot about the industry, but your questions are vague and so is the info you've provided.Not sure how managing 8 units doesn't, "require much management"?

We sold a wonderful two unit STR in Depoe Bay in 2024, which generally is a no-go zone but has neighborhoods with specific commercial zoning that allows for vacation rental usages as well as a brand new development of luxury homes that allows STR usages similar to Olivia Beach in nearby Lincoln City. 

I understand this is not a requirement, but I have never received a damaged unit from an inherited tenant or any legal issues.

One of my early properties barely broke even, but after a couple of years, rent hikes and expense optimization turned it into a strong performer.For cash flow benchmarks, I usually aim for $200-$300 per unit, but your situation.. house hacking.. offers unique benefits like reduced living expenses and quicker equity buildup.