Converted a 5-bedroom property into co-living at $800 per room, generating $4,000/month.Strong cash flow with the right systems. 

It was basically unlivable.My now wife and I moved across the country, camped in the converted carport room, and lived inside the renovation zone.

When I purchased the house I did a full rehab and converted the unfinished basement into a two bedroom.

They do this daily which builds their following and increases their chances for converting someone into an applicant. 

I have recently got my first STR in MtP by converting my primary home/sitting on the 3+yr waitlist for a license and doing just as well as I had anticipated.

Convert the layout for maximum value.Extra dens, large living rooms, and awkward spaces are opportunities.

Hidden risks most investors missRisk #1: Someone reports you for creating a “duplex”Usually triggered by:Two full kitchensFire separation doorsAdvertising separate “units” on ZillowIf you avoid that, 99% of issues disappear.Risk #2: A downstairs bedroom without proper egressThis is the most common code violation on these setups.If you convert a garage, the inspector will want:Window height within egress codeMinimum ceiling heightHVAC that meets Florida energy codeNo sleeping room opening directly into garage space (if garage door stays)Risk #3: Flood zonesSeminole Heights has pockets of funky elevation requirements.If your garage slab sits low, you may need:Flood ventsElevated electricalWorth checking before sinking money.5.

I either want to convert half of the property into airbnb (8 rooms downstairs for airbnb), and the other half (8 rooms upstairs) for longer term tenants, or either the whole property as airbnb.

What many fail to recognize is that this isn’t true investing—it’s running a business, with all the operational headaches, turnover, and liability that come with it.How I am applying this advice to my own pipeline: Amending zoning to an assemblage which already has approvals for 19 apartments (10 converted and 9 new construction) and two small storefronts, into a concept that has an expanded restaurant/ground level beer garden use.

Most leases are for a one-year term and then automatically convert to a month-to-month basis if not renewed.