I am going through my first process of renovating a large single-familiy unit into a multi-family (Houston). I am trying to decide if to do a four-plex (3 1-bedroom and one 2-bedroom + laundry) or a six-plex(5 small 1-bedrooms and 1 2 bedroom. No laundry). The market area calls more for a 1-bedroom apartments and that is the reason I would like to do the 6-plex. Questions:
- Is it the approval from teh city of Houston MUCH more difficult for a six-plex?
- What about dwelling/fire policy? More expensive in a six-plex? ANy recommendation on where to get insurance?
- will both require “certificate of occupancy”? Is this difficult to pass?
- Is the laundry idea really profitable? or is more of a pain?
Thanks a lot in advance