RN in Baltimore, newbie on Rentals
Hi. I have decided to buy a townhouse in Baltimore (Canton), walking distance to Johns Hopkins Hospital as I am a RN. We get a lot of travel nurses and doctors/residents and I thought this would be a good idea for a renting the rooms. But I am not too sure if I am doing the right thing. As this is a new community and I am still under contract, and this will be for September delivery, hopefully closing will be in first week of October. This is about $368K 4-story, two-car garage, with dining and living room in the second floor, third floor are two rooms with own baths for each room. Fourth floor is the master suite. My question is that, is this a good idea to start my rental business with a brand new townhouse? I am planning to stay here for a year as my primary residence and after a year I rent out all three rooms and get a second home with 3-BR and rent out also the other rooms. Whoever is within Baltimore area, please let me know what your ideas are. Thank you so much for your time.