To purchase or not to purchase?? Advice?
Question for all you investors out there... Would you buy and rent out a single family home that the current owners closed off the staircase and turned the house into two units?
In other words, the previous owners were operating it like a duplex and renting out both units to different people... I’m just wondering if someone with more experience than me can chime in and help me decipher why this may or may not be a good set up?
It's is not a duplex as it is listed as a single family home. Basically, the downstairs is a 2 bed 1 bath MIL unit with laundry in the garage and the upstairs is a 3 bed 2 bath with the laundry in the unit. The garages are also separated and locked. The lower unit is not a permitted ADU but there is a current renter that's been paying and living there for over a year.
Side note: I believe that it's okay to rent out a single family home with a mother in law if it's your primary but can you rent out this type of setup if you (as the owner) don't live there? I don't see why it would be any different then rent a SFH by the room.....
Big thank you for any advice! 😊😊😊