Splitting a SFH to up/downstairs units
I bought my first rental last spring and got it rented out to some good tenants and for the most part things have gone smoothly. In August I bought a second property that was already set up with a mother-in-law type basement. Full kitchen and hook ups for appliances. On the advice of my realtor I split the unit into top and bottom units, and while it took a bit longer to rent the bottom unit, I'm renting the second house for $25 more a month than the first house, but the second house cost me 30K less. I was a bit nervous in the beginning about tenant issues arising, but so far things have gone perfectly so far.
So how many others do this? Should I try this again? I'm happy with the cashflow on the first house, but I REALLY like the cash flow on the second house.