That's a pretty big place. I was more thinking I would live in the back building and I would rent the house to someone I know and rent the upstairs apartment to someone else I know
Yeah, it was entirely a pain in the ass. So many unpaid rents... So many hassles... So many calls in the middle of the night - even with a management company.
I used to keep a basement apartment there and would party my ass off in Farmington - while I was also a professor at UMF. It's actually an old hospital that the previous owner turned into apartments. I have no idea who owns it now. It has sold a couple of times since.
That's why I figured I would just have people I like staying here that are on an monthly check kind of deal where I know they will have the money on the same date every month and I would get to hang out with them. I am kind of hoping it's my kids, but who knows what their future spouses are going to want.
I'd guess that 75% of my renters were on a fixed income.
We did get Section 8 clients. Those 'always' paid - but not always when they were supposed to. Sometimes they'd be months late.
Then, you're stuck with a ton of landlord regulations.
(post is archived)