Thank you @Patrick Fraire, that is a good point about the quality of tenant, and honestly due to my price point I'm looking at what would probably be classified as Class C.

I probably wouldn’t classify this are as B B- I’d be very surprised if you were able to get $1300/mo

@Jeffrey Lee I don't think living in a property for only 1 year will get you owner-occupied benefits especially if you have a primary residence with a mortgage elsewhere.You can classify it as a second home and then change it to a investment property on your taxes when you start renting it out.If you do a split between your use and rental you just need to give that info to your CPA come tax time.When you take out the mortgage you need to declare it as a primary, secondary or investment property.

Another option is to attempt to create losses in your rental properties (particularly if you are classified as a real estate professional). 

Some people classify a primary residence as a liability because there is no cash flow (I personally see it as an asset) and unless you are renting it out you are losing money but everyone has to live somewhere so you might as well be paying down debt on something you can potentially sell for profit later. 

Network a lot with agents and add value to them.You can find them yourself - but know that you are starting a marketing and sales company vs a project management company which I classify rehabbing to beYou can network with the people who do have marketing and sales companies (wholesalers), and add value to them.If I were you, I would find the wholesalers in your area, build a relationship, and figure out how you can buy from them.

The wind event classified the claim as an Act of God.

To avoid any confusion with a judge/lawyer after the fact about if the tenant owns half the garage since they paid half, I would classify the lump  sum  payment as a prepayment of rent.  

It might be able to be done without even losing a bedroom, but even if it goes from 4 bed 2 bath to a unit with 2/1 and a 1/1 unit, the rental income (or sale price) should be higher than a 4/2 SFR in the area.That said I'm not sure if there's something I may be overlooking.It already has 2 exterior doors positioned nicely with separate porches and room to have cars parked on different sides of the house (it's on a street corner).I looked up the zoning regs for how the plot is classified and it is allowed by right (don't need to apply special allowances or rezoning) to have multi-family housing on the plot.The rehab would already have it gutted enough that the changes to plumbing and electrical would be easier.I don't have any idea how hard it is to get separate metering for water/gas/electric. 

Hello, I have a question that I need classify on.