I was reading a classic Russ Whitney book - Building Wealth [note that I believe alot of what he preaches is BS, but a little bit of his stuff is good] - and he had an interesting idea when he first started out…
He said one thing he did, after moving to Florida from another state [if I recall this correctly]; he bought a house and rented out all of the rooms to people. He didn’t even live there, but rented out all of the rooms…like a dorm or small - though probably illegally operating - apartment complex.
That sounds like an interesting concept to me…what if you could get a cheap but decent 4-bedroom/2bath SFH, and rent it out to say 4 people for $250 a month each. It’s in principal, the concept of getting roommates…people do it all the time, even though I’m sure zoning laws don’t approve of “roommates”…but again it happens all the time. In this case you don’t live there…but you check up on the place periodically & maybe even provide services such as lawn care and/or utilities at a higher rent rate per person. What do you guys think??
The only issue to this is the constant turn-over. I prefer to get them all at once and make them all severably liable for everything…
In one of my last rentals (a 3 bedroom), I rented to three Air Force military police officers. They were great tenants…ALWAYS paid on time, never broke the rules, always asked before they did anyhting…
Keith
Did you provide any utilities?
In one of my last rentals (a 3 bedroom), I rented to three Air Force military police officers. They were great tenants…ALWAYS paid on time, never broke the rules, always asked before they did anyhting….
Your results from the AF SF would be a little different than with AR SF… 
Cops are cops…at least 2/3 of them were of reasonable intelligence. The third was “dull normal”…
Keith
Be sure to look into the city guidelines in your area, parking can be an issue, and some cities have adopted codes that prevent having more than 3 or 4 people living under the same roof with different last names or something along those lines…anyway it some b.s rule to keep things like that from happening
Eric Medemar
Eric is right. It can be illegal to advertise and rent a single rental to unrelated people. Another big problem may be the insurance. Do you have proper insurance for a boarding house or a hotel or whatever you would legally be classified as. When you have a claim and don’t have the right insurance, you’ll be in real trouble - financially that is.
Also, when you need to evict someone, you may also have a problem. After all, you’re trying to evict someone from a room, not an entire property. This tenant could and would complain to everyone under the sun that you’re running an illegal operation.
I don’t need that kind of trouble!!!
Good Luck,
Mike