While some of us want to preserve it within the family, others, including my late grandfather's wishes expressed through my grandmother, are inclined to sell if we can't make it financially viable.The house itself is a 1 bedroom, 1 bathroom dwelling.

Their neighborhood selection process is key in affording investors a home in an area that instantly produces positive cash flow and high probability to earn above average market appreciation over the long term.

Finding undervalued properties is a great way to instantly build equity, but this takes a lot of work as well.

I never use average rehab cost/sqft because every building is different from what I have rehabbed so far in the past 15 years, but here are some general estimates for youCosmetic rehab: $11 - $25 per square footLight rehab: $26 - $50 per square footFull gut rehab: $51 - $90+ per square footThe biggest cash buyers of properties in the CLT include:iBuyers (instant buyers) such as Opendoor, Offerpad, and RedfinNowInstitutional investors like Invitation Homes, American Homes 4 Rent, and Tricon ResidentialReal estate investment trusts (REITs) like Equity Residential and AvalonBay CommunitiesPrivate equity firms and hedge funds like Blackstone and Cerberus Capital ManagementLocal and regional real estate investors and investment groups

Currently, you can add two units to any multifamily property through the state's ADU laws (ADU = Accessory Dwelling Unit).

This not only enhances your home's appearance but also improves safety and security.Install Window Boxes: Adding window boxes with colorful flowers or greenery can instantly boost your home's charm factor.

When you say "According to county records, our home is permitted as a five-bedroom dwelling", that sounds strange. 

This niche area does not have alot of recently sold properties and the ones that have sold are condos in high rises not single family dwellings. 

As I need to register this business with the state and county, should I need to register LLC as "531110 - Lessors of residential buildings and dwellings" (NIACS code) or something else?

They add:  Creates many definitions including classes of dwellings, but specifically excludes all hotels, lodging houses, rooming houses, boarding houses, boarding schools, furnished room houses, lodgings, club houses and university and school dormitories.