Turning Home to Room Rentals

Hi,

I’m interested in purchasing a minimum 4-bedroom one-family home and turning it into a “rooms for rent” only….I’m interested in hearing anything from anyone who either currently does this or knows someone that does this. Here’s more info:

-ideal purchase price: no more than $500K
-will be in decent area of Bklyn
-I will not be living in home
-will furnish each room with a bed, armoire, ceiling fan and computer desk

Where can I research this more, what the pros? cons? etc…thanks!

By shamay |