Here’s a step-by-step guide to help you through it:**Understand Local Regulations:**First, you need to check with your local city or county to see if the zoning laws allow for this conversion.

The house has a bit of potential for rental as house Hack as we are planning to live in the upper part and rent the basement.My questions is, is that possible to convert the basement into 1Bed 1Bath, with over in the kitchen and shower?

I would start with the Fair Market Rents (FMR) in the county where the property is located and use that as a basis to negotiate from there.Thanks Jaycee, are to referring to the HUD website? 

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Most of the regs prohibit it within the city, so I would check and see if the area you are looking allow it.Your best bet is to look at the markets on VRBO and AirBNB and see what is out there right now.

I wanted to have a spot to rent out and cover the monthly mortgage payments while securing a small spot to have for myself in the next 30 years for when I no longer reside in Charlotte but want to visit friends, or downsize.

Were you looking to acquire more homes for that specific property? 

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