As a current basement dweller and someone who slept in a converted living room for years in the NOVA area, I have somewhat of an idea about room rents in the area, but I've realized that there's a lot of discrepancy in advertised rents on Craigslist without a way for me to have a reliable indicator of how much rent my property/room configuration could get to calculate if house-hacking would be beneficial.

There are so many errors I don't even know how to configure a way to explain why.

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@Matt Davis if the cabinets work, are reasonably durable, and have a decent configuration, I don’t see any reason not to paint them and add new hardware and a new top.

Attach this message to the house manual, which should provide further instructions on how to use/configure household items such as the remote control.• Be available for questions or concerns during the first 24 hours of every stay.

HIGH LEVEL VIEW:Potential locations: appreciation, population, per capita income, taxesLocation validation: major employer viability, economic trend, economic stabilityTarget tenant pool: segment most likely to produce "good tenant pool" tenantsProperty profile: type, location, configuration, rent range which the target tenant pool is willing and able to rent and is profitable.Investment team: property manager, realtor, trades and others as neededCandidate properties: price, ROI, time to rent, crime, location, proximity to jobs, trafficSpecific properties: return, time to rent, rent range, rehab cost, rehab risk, area vacancy rate, proximity to jobsLOCATION RESEARCH:City economics: https://fred.stlouisfed.org/categories/27281Neigbhorhood breakdown: http://www.city-data.comNiche ranking: https://www.niche.com/places-to-live/search/best-places-to-live/Property taxes: https://www.fool.com/millionacres/research/property-taxes-state/Property insurance: https://howmuch.net/articles/homeowners-insurance-rates-2020CORE 4:Team members that is especially important for OoS investments are Realtor, PM, Lender, Contractor.

Many properties lack the ability to be converted from a 1 unit to more because of the configuration of the units.

@Sayli Mulay Account ClosedNot everyone qualifies for a Solo 401(k), which requires some form of owner-only business creating earned income.Passive income from rentals does not qualify one to sponsor a Solo 401(k).An IRA can be configured to provide the same level of "checkbook control" as the Solo 401(k) with the creation of an IRA-owned LLC. 

I assume based on the renovation figure, the house was in pretty bad shape but I am curious about the amount of BD, BA, and SF you got for this price, could you give some detail on the configuration of the house itself?

It's going to take more work to build funnels, website, configuring the bots and of course a higher 1 time investment but was just thinking if that would be cheaper long term.