Rented all spare rooms for $300/mo.

My house has 4 beds, 2 baths, and 1,080 sqft, with extra kitchen and living room in the finished basement.Question / need advice:My main goal with REI is to buy and hold using the BRRRR strategy.

Have room mate(s), have them pay you rent (your mortgage).

I am very much an aspiring investor in Grand Rapids and West Michigan and am checking off my list of needs (CPA, PM, capital, lending etc) but one area that keeps tripping me up is asset protection (i.e. umbrella policy only vs LLC).

I think it is enough room. 

Purchase Price - $70k-85kCash Flow Per Room - $375Property Tax - ~$700 & Insurance ~$500NOI (50% rule) - $750ORNOI: $1500- $105(7%vacancy) - $120(8% PM) - $150(10% repairs) - $58(Taxes) - $42(Insurance) - $250(utilities) = $775Estimated ARV(current w/ ~$4k of work) - $85kEstimated ARV(w/ ~20k of work) - $115k--Will most likely wait to do this until later on since it will only be college students renting Mortgage 30yr & 5% rate(5% Down) - $485/mo(includes PMI)@Andrew Whitacre @Salvator Migliore

That number could be around 9 grand with the numbers given and you're definitely paying out of pocket for it. 😳 Hope this helps! 

Purchase price: $225,000 Cash invested: $45,000 I rent 3 separate rooms to students from a nearby college.

Buy a hotel room and the hotel management will give for daily rent.

Have you done a market analysis to see if there's room for residential units, and if you can re-purpose the other building into mixed-use with the ground floor retail or office and the second floor residential, then that would be the first strategy I would look at.You mention it's in an opportunity zone.