Rent by Room in Baytown Texas
A duplex in Baytown TX where there are lots of oil and gas companies, is being rented out by the room to refinery workers at $250/wk per bed. Total 5 bedroom/5ba. Asking $140k. On paper looks like very attractive CoC and cap rate, but the owner doesn't have leases and any documentation. Should I be wary of this type of rent by bed type of situations?