I will list the details below for you to review.Asking Price: 275kProperty Details: 3be/2ba, 1350 sqft, 8600 sqft lotRehab cost: 20k (cosmetic fixer-upper like fence, paint, lawn care)ARV: 310k-330k Purpose: I planned to buy this as a primary and rent out 2 of the room for roommates.

They quoted me about a grand to do the elevation survey for one of my properties, and about another grand if they get it taken out of the flood zone.

Purchased this property on 9/21/21 and had the entire interior painted, granite counter tops in the kitchen, laundry room and bathrooms, resurfaced the hardwood floors that were being hidden under the carpet.

Learning to Manage a short term rental is an ongoing activity for us, we have done okay, but have a lot of room to grow.

Expanded the driveway, making room for more off-street parking.

If you are simply renting rooms in the main living residence and have not separated them as investment only then same thing.If you have separated out part of your house as investment only then that portion could be used in a 1031 exchange to buy other investment property. 

What I want to avoid is something that happens here in expensive Vancouver BC, and that it where one person rents it and then gets their hommies in all renting a room each. 

While no one wants to live with others if they don't have to, it's a small sacrifice to make in the grand scheme of things.

my plan was to acquire cheaper properties in my area for around 50k  that I could rent out right away that had room to create value by adding more units  .

It shows the minimum sqft for the number of occupants.For 1-2 occupants: 120 sf living roomFor 3-5 occupants: 120 sf living room, 80 sf dining roomFor 6 or more occupants: 150 sf living room, 100 sf dining roomRegardless of the number of occupants, for bedrooms the rules are the same 50 sf/occupant and a min of 70 sf for one occupant.If you have that many people coming and going, you need to remind the tenants that only those listed on the lease (and their children under 18) are allowed to live there.