I currently live with them now, and it works out well (even though we all live in a single family home) but I have considered, what happens when the tables are turned and it's my parents living under me (even In a multifamily), and that is probably a whole different situation, especially when there is paperwork involved, thanks for the quick feedback everyone!

Since then, we have flipped 3 more single family homes.

Depending on the zoning of your property, the configuration of your lot and the construction of the garage, you may not be able to get a CO from your city for the extra unit.Your best bet may be to make use of the space yourself, provided that your tenants still have proper parking.

I currently have a single family home (4 bed 21/2 bath) and the first part of the house hacking strategy would be to rent this house out and then go and purchase a multifamily property to live rent free in and therefore save up more cash.

This single action, for me, was the biggest thing that has advanced my RE investing.I'm part of a small meet up in downtown.

When I do short sales, I get pictures of every single little problem I find regarding the property; get a licensed contractor to give you a detailed cost estimate to remedy it.

I am interested in strategies on how to approach investing in single family rentals.

Best bet if he/she wants to stay they must sign the lease or leave the property.

I have a lot of inventory for single family homes and smaller apartment buildings that are fully leased.

I live in South florida though and don't have many contacts since I left there.The property is a 2/1 single family home near downtown and about 20 minutes from the base.