I decided to join bigger Pockets because searching through google of my concerns led me to sign up and hopefully get answers to my questions.I am currently going thorough 1 eviction, 1 chargeback/dispute, and one tenant that nsf and vacated the property after 1 day saying they didn’t feel safe living there.

And the garage feels oversized, so I'm thinking about the possibility of converting it into a 2-car garage and adding ~300sqft of living space as another bedroom and hallway that still connects the house to the garage, so that the new layout will be 2500sqft, 3 bedroom, 3 bathroom with a 600sqft 2-car garage.

The additional approval step is an annoyance, but a 700 FICO score for a renter is very optimistic.

@Matthew RolfI’m not doing a crash pad I’m house hacking a 5 bedroom house which I will live in here in a few weeks and rent the bedrooms on 1 year leases to pilots and flight attendants I’m personally friends with.

Most families are smaller these days, extra bedrooms are an invitation to get UNAUTHORIZED people living in your home.

Earning a living in real estate is difficult, which is why nearly 90% of all agents let their license go within two years.

Then of course depends on your lifestyle and where you actually live some places are much more expensive to live than others..

You'll pay no tax on gains below $250k (single) or $500k (married) if you lived there for 2/5 previous years. 

Brother living in top floor, other friend renting out 1st floor.

I live here as well.