Hey Sam,Good move.

I think it is ambitious; maybe an opportunity if the numbers work and it is a decent property in a good location.

Good luck  

Of course your property manager will know the rules, but it is always good to understand them :)

They will be able to help you evaluate the deal, find a CPA who can analyze their books, make sure you have all necessary contingencies in your offer and find the any and all skeletons in the closets...Good luck!

not sure if that is a good thing or bad since we will still need to get some new blueprints for the alterations anyways.Sorry I am just trying to brainstorm and make a decision based on all the possibilities.

Good questions, I've tackled this same question with a number of my clients. 

Definitely an interesting idea, but I think you have to either have some property management who has experience / knowledge with managing properties like this or some personal knowledge / experience running these types of properties.I also think there is good opportunities around college campuses like Kent State, Toledo, Baldwin Wallace and rent out per room to college students. 

Hey Deepak I have a number of rentals in San Diego and lots of experience placing high quality tenants. 

Good Morning BP,I am starting my investing journey I have partnered with someone for mentorship and he is also my lender so I am a Cash Buyer.