Anyone experienced with sober living housing??

[Ryan Ray]

Hey BP, I have a property under contract and it’s uniqueness has me wondering. The property is close to the local university so I have considered making it student housing. 

I have also considered converting it into a sober living home. Renting by the room and having someone on site as the house manager. 

The property is set up like a duplex with two giant common areas between them. Dual kitchens,beds, baths, living, and dining areas. Both sides have 2 car port with laundry and storage. Ample parking up front and a large backyard with covered Az rooms on each side. 

Any ideas, thoughts, or input would be greatly appreciated. I’ve considered making a more traditional duplex as well as making an sfr with an in-law suite. 

There are options, but an exit strategy that would maximize cash flow and if probably just keep it. Right now it’s up for assignment with a sale price of 310. Estimated repairs of 115 and an arv of 525k on the low end. The neighborhood is desirable, but properties are vastly different nearby and getting a solid comp for such a unique property has been difficult.