What to do with beautiful in-law suite?
My wife and I are finally ready for a first home purchase. One home we saw is 4,000sq/ft beautiful Victorian style on a few acres with a 900sq/ft in-law suit with all new appliances, hardwood and private entrance. A similar apartment in this area would rent for about $1,100
So I'm wondering if this can be rented out? I'm pretty sure in NJ there are laws against renting an in-law suite. Could this be made into a duplex, maybe rent as a hair studio or something, lease it out for storage, get a "roommate", turn it into a home office for tax deduction, or just rent it to a friend or family member for a cash deal?
We could afford the home without renting, just wouldn't want to waste the space.