Years ago there was an assisted living facility for sale that had been converted from a Holiday Inn.  

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.

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

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

Eventually, he won't be able to pay and you will have to evict. 

The goal of house-hacking is to eventually rent out the unit you live in, when you scale your portfolio by buying the next rental.

Legislators understand where the economic engine is.It also helps that the first $100 million was deployed cleanly—no waste, no drama—so the city walks back into the Capitol with real credibility.This year’s request focuses on building momentum:– Converting vacant downtown buildings into productive space– Upgrading the Belvedere and Convention Center corridor– Advancing LouMed– Improving the Waterfront Amphitheater– Building a modern regional first-responder training campus– Transforming Jefferson Memorial Forest into a meaningful outdoor destination– Expanding sports-tourism facilities that drive steady visitor trafficHousing is another major pillar.

Immediate rent increases, strategic renovations, and vertical expansion can transform this property into a highly lucrative asset.Side Note: Want to learn more about converting Philly’s RM-1 properties to add units?

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.

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.