Updated about 9 years ago on . Most recent reply
Splitting a house into 2
This is my first rental. I really appreciate any advice.
I just won a bid for a HUD house. 2200 sq feet one story house 5 beds and 3 bath and one kitchen for $140,000. The house has 4 entry doors. Neighborhood has a mixture of single and multi family houses. My house payment would be around $900.
My question is can I (or should I) split the house into 2 units by building a wall? I would have to build kitchen for one unit. I don't want to separate the plumbing, electric, HVAC as it would cost too much. If I split the house like that I would have to include electric and water, cable and internet to rent. I'll going to city to a ask. But I'd like hear your thought on it first.
My other option is I'll build a another bedroom by building walls in one of the large living room. Making it 6 bedroom house. I would rent the rooms for $450 each. I have About 7 years of experience in renting out 5 bedrooms in my house ( I live in 6th room). I know renting out rooms in house I don't live in is much harder. I'm thinking I'll pay one of the tenant $200 a month to clean and manage it.
Thank you in advance for an advice.
Alex