anyone own rental properties on here?
Id do the duplex thing. I rent the next door place which was the original buy, then built the shop and live above in the back 40. I have rented to bad and good. I just chalk it up. keep the place nice. fix stuff right away and encourage them to report damage right away. I dont nickel and dime people. It covers my mortgage and they have to deal with the guy who lives next door. The agreement is very to the point. Worse case scenario is someone wont move out. In this state the renter HAS to move out if Im moving in. If it gets to that point I say Im moving in and I take a month to go through the place, might spend a couple thousand painting and making it premium ......then rent it out. I try to stay away from pets. I usually give all the deposit back and many times I dont have to relist it as the people moving out know someone. Everyone is happy. Sure I spent some cash, but it comes back to you. Operating costs when doing the work yourself amount to maybe 2-3K every 2-3 years if you have a solid house to start with. New roofs, and sewer are the worst, get that in your home inspection for sure.
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