Tips on moving into my sister’s first rental house in Waco

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Hey guys,

A little backstory. I’ve been in Waco for about 6 years now and I’ve been boasting about it to my sister ever since. She lives in California where the majority of our family still reside. Just this year, she and her husband decided to buy a house out here in Waco and rent it out. They are thinking about remodeling the entire house and filling it with furniture in order to attract university students, and hiring a management company to help with the marketing and management while they continue to live and operate their jobs and business in California. They’re closing sometime next week (I’ll be getting the keys from the realtor), and are planning on coming out here for a month or two to do the renovations; they’re asking me to be involved as much as I want. They also are offering me to live there rent free, and to look after the property while they’re away. I plan on doing so as long as it’s mutually beneficial, but I want to make sure I’m well equipped. What are some things I should keep in mind as a family member/tenant moving forward with this proposition?

TLDR;

I want to be able to help my sister out as much as possible as her and her husband are buying their first rental property out here in Waco and they are allowing me to move in to one of the rooms for free as long as I help take care of the house. Tips?

@Joshua Rizzo it is terrific you are helping you sister out. You might want to do some research before into student housing. Before Covid-19 the Baylor student market was overbuilt. If the property is any further out than 15th street you are not going to find students willing to rent. There are plenty of closer units available. The next issue with student housing is Covid. The university is shut down for on campus classes and many of the students headed home. It remains to be seen if things open back up in the Fall.

It sounds like a good time to house hack, fix the place up for next year.