Looking for Feedback on SFR Analysis

[Chungsoon Haw]

Hi guys,

I'm super excited to be a part of this community and am still absorbing as much as I can through blogs, forums and podcasts. However, I figured it would be much faster to ask questions and get some feedback.

I found a duplex 4+3+basement(0 atm) at 250000.

I was thinking of converting each room into a separate rental and my market will allow for 400+utilities quite easily. My first question is: with all the SFR conversations, it seems like the underlying assumption is that one family will rent it out as oppose to multiple strangers. What do you think of renting it out to 7 different people and what type of additional costs will there be as oppose to two families?

Using those numbers, factoring in tax of ~3000/year, insurance of 600 (will probably be higher), maintenance 10%, PM 10%, vacancy 10%, I'm sitting at about 500/month. What are your thoughts in terms of feasibility?

I haven't gone to see the property yet, but I'm also thinking of seeing if there is a way to convert basement into a 2/1 unit as well.

Thanks in advance!