i saw a property divided into 3 units that was a coop.there is also something  known in some countries as vendor financeand people do this to earn money.some famous property investors did this to earn more money to get into investing.but it helps people like you aswell it can help everynei'm unsure of the details b ut it pairs up sellers and buyersand buyers who can pay but cant get funding so easily for whatever reasonand it organises the funding in a way that the vendor  earns money the person linking them up and organising it makes moneyand the buyer benefits also with getting a good loan and getting into property. if you cant pay its still like a bank that you can lose the property.everyone wins i dont know what house hacking is maybe somene will explain or i'll google it  not all counties allow  different parts of a home to be rented out separately so i'm unsure what type of multies exist in different counties or whats allowed or not allowed  in different areas.i gather that  something has to be zoned as a multi perhaps, so not everyone with a separate room or  basement can rent it out legally.

I use a "Remove Tenant Addendum" that spells out the responsibilities of the remaining tenants, when the departing tenant is out, what happens to the deposit, etc.

To do that would require architectural, structural, LID, etc. plus plan check fees and department clearance fees and RTI permit fees. 

If you don’t live in the property, there are more hurdles.Here is a link to Airbnb faqs: https://www.airbnb.com/help/ar...But when in doubt, contact the Department of Business Affairs and Consumer Protection(BACP) directly. 

One phone call to the building department, ask, "What's the current legal use for __address__?"

Father killed in the line of duty when I was 7 on the Louisville police department.

(I had a lengthy conversation with the city permit department, and apparently this contractor is notorious for accepting money for work and taking off.

Check with your building department rules which may be available on line. 

If the certificate of occupancy currently classifies it as a single-family dwelling, you'll need to get a new one (through the Department of Buildings) to make it legal to rent the apartment.Hope that helps!

I'm doing the same thing and working through the Trust department of a Bank who is handling.