1) Renting garage units2) Additional Pet Fees3) Adding flooring insulation in the upper unit led to improved efficiency and sound reduction for lower tenants.

I purchased a single family to rent out the rooms and it sent my finical plan completely off course because I was not as ready as I previously thought.

Loss of Use / Loss of Rents: Normally, there is a 20% included limit.

So your super basic P&L may look like: $30,000 Rents-$3,000 insurance expense -$9,000 interest-$3,000 taxes-$8,000 operating expenses-$14,000 depreciation ----------------$7,000 loss on paper for the year  so negative taxable income But remember- $14k of that (depreciation) was something we didn't actually spend money on- so cash in bank at year end would be $7,000. 

Rental gives $500 monthly income from $2,000 rent.

I am TIRED of moving and RENTING!!!!

They are even working on getting me the evicted tenant's security deposit, the missing JANUARY rent since the place is still empty, and covering the cost of my own manager re-listing the property.

Consider all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

The BS discrimination claims (you won't rent to felons, and blacks are more likely to be felons, therefore you're a racist) will go away. 

Or do we just list the entire upstairs as a big 2br 2bath and get the most rent we can?