How do you advise I renovate my property for rental?

[Brent Fisher]

Somehow, in this market, my wife and I were able to acquire a property in Cottonwood Heights Utah. That's a really great story there too, I think, but possibly for another thread. This property has the following details:

1600 sqft

4 B

1 B

0 Garage

Stackable Laundry in one of the bedrooms.

Open concept kitchen and living space.

My wife and I plan to move there and live as our primary residence, but eventually use the property as a rental. So, the question is, what is the best way to configure it? 

Option A:

2 B

2 Bath

1 car garage

They had converted the garage into a bedroom / storage room for skiis, gear, bikes, etc.

This option would combine 2 of the rooms, put an owner suite bathroom in there, and convert the garage back.

Option B:

3 B

1 Bath

1 car garage

Option C:

No changes, and me and my wife and daughter just grin and bear it with one bathroom.

I'd love to hear your thoughts!

[Zachary Inman]

Check out comps in the area and see how much rent is go for a 3/1 vs 2/2, and also see how long they sit on the market.

In my experience 2/2 is typically easier to fill, but your local market might be different.

Also, when renovating, be sure to make it bulletproof. By this I mean use materials that are able to survive use (and abuse) from mtiple tenants.