If you Plan on doing a single rehab, hire someone to do all work. 

I'm currently living in Crown Point Indiana and hope to invest in surrounding Northwest Indiana (Hobart, Merrillville, Portage, Lake Station) and maybe eventually the South West suburbs of Chicago.I'm mostly interested in flipping single family homes and purchasing smaller multi families. 

In the eyes of the law, any legal conflict between you and your guest will be treated as a landlord / tenant conflict even if the rental is a room in your own home.  

Seeking advice or opinion on how to handle a situation.I have single family home in PA jointly leased to a couple with 2 kids.

I am weighing the options of converting my single family home into a rental, verses selling it.

Even if it's in a great area of the city.

I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23If a purchase, you also generally need reserves / savings to show you have 3-6 month payments of PITIA (principal / interest (mortgage payment), property taxes and insurance and HOA (if applicable).

I am interested in a single-family home to start off.

We have a huge number of people entering the market with even single/double wide's being listed as STRs, I think it's going to take 12-18 months to flush out a lot of these listings where people have obviously not run their numbers. 

For folks that have gone the single color route, how do you do sheen selection?