Flipper/Rehabber · Cincinnati, OH · Member since 2014 · 8 posts · 0 votes
My wife and I are nearly done paying off our house, after 29 years or so. We just finished flipping another house, which was our first flip ever. That deal just closed the other day, and we are looking to start another one on June 1, 2019, just a few more days from now. I've been interested in purchasing rental units for some time now, but only recently have we been in a financial state where we are able to do anything besides just living. So, I'm considering turning our long-time home into three rental units - one on the first and second floors, one in the basement, and removing the roof of our detached garage, and building a second-floor apartment in it's place, thus creating a third apartment to rent out.
Regarding the zoning, there's another similar house down the street that has an apartment above the garage that is rented out. Not sure about the basement apartment yet - needs more research.
Regarding parking, the garage is a two car garage, but we can actually fit 4 cars inside because of the depth of the garage, but only two bays. We currently have 5 vehicles, two trailers, and a quad in our parking area, so I don't see any problem with parking in that potential scenario.
Thanks for your consideration and help regarding my questions guys! I appreciate it!