Updated over 2 years ago on .
Purchasing a Place with a Possible ADU
Hello Everyone,
I have a an interest in purchasing a property that has a separate outbuilding. The outbuilding was used by the current sellers as a place for some family members to live in for short term. It is basically studio size and I think I could get between $500-$700 in monthly rent if I purchased it. It is in a small town southwest of Cleveland, Ohio and I would live in the main property. I would rent out my current home, purchase this home and rent out the ADU. With all of that backstory, I am wondering what strategies, issues, or advantages you see in this as it would be my first investment other than my own home? Would I have to notify the city of it being rented out and if so, could I just say it that the area being rented out is an area in my home? I'm a little concerned they will either not allow it or make me change it to being considered a duplex. The home is situated on one acre. Thank you for your advice and input.