Each property type—whether a single-family home, duplex, triplex, or quad—has its own code.

I have owned several single family homes as rentals in my own name, my first LLC holds mostly 2-4 unit small multifamily properties, while my most recent LLC has all 5+ units.

Hey Joanne, you’re definitely onto something with room rentals.. it can be an excellent strategy for offsetting a hefty mortgage and, in some cases, bringing in higher total rent than a single lease.

If you are single or married with a small child, buying a duplex or 4plex should work well.  

I currently have a duplex in Milwaukee and am living in a single family home that I plan to turn into a SFH rental.

There are also several funds out there that provide high single digit yields that are low risk. 

There is a good reason why "tenants, toilets, and trash" is something a lot of mom and pop rental property investors/landlords/flippers are eager to move on from when they can!

I made the mistake of renting my single-family house in Alpharetta to a tenant with a credit score in the 500s in December 2023.

If you are single or a couple on the same page about house hacking, look for uneven multis.

I don't think you are going to be able to get insurance for two separate living units in a single-family when they are both illegal and likely do not have the correct egress windows (basement) for fire safety which could subject you to huge liability if something happens to either party.