Full gut remodel.New HVAC, plumbing, electrical, everything.Rehab cost: ~$55,000Financing: cash + 0% interest credit cards(Yes… the classic rookie move.)After fixing it up, we rented it for $850/mo.Today that same house rents for $1,200/mo and is worth around $135k+.Looking back, I probably should have run screaming.But honestly?

They sound honest and want to do the right thing. 

Whatever the next decade looks like, having that tax base and that infrastructure in your backyard is a gift.We’re also insulated from the wild weather extremes hammering other states.

Kristina, honestly, this could be a solid first rental but only if a few things check out first.First thing — double check your numbers.It sounds like each side is paying $12,000 a year, so roughly $1,000/month.

Renting each floor separately works, but ONLY if you treat it like rent-by-roomThe city only cares about how it’s built, not how it’s leased.As long as:One electric meterOne mailing addressOne kitchenOne unit on the booksYou can rent upstairs + downstairs separately the same way people rent a master bedroom vs. a basement suite.This is extremely common in Seminole Heights and Tampa Heights.4.

And Louisville’s job base is growing.Here’s where the market sits right now:Inventory: 3,581 active listings30-year fixed mortgage: ~6.24%Market pulse: motivated sellers and real opportunity on stale listingsThis is one of those environments where thoughtful moves tend to age extremely well.

Quote from @Tommy Adeoye: I hear you, and honestly, I appreciate you laying out your concerns clearly.

Wrong.Underwrite the deal as-is.Then add rehab, holding, and turn costs separately.This keeps you honest.3.

A good investor-savvy agent can be extremely valuable—especially if they bring strong market knowledge, negotiation skills, and a network of lenders, contractors, and off-market deal sources.

I have been back and forth between targeting a 350k or lower single family home and house hacking it as the payment is extremely affordable for me even if I can not find great renters/roomates quickly.