This time of year, I meet people who want to rent their home. This can be a wonderful opportunity for many people. Extensive evaluation should be considered before taking the step to rent your home. Here are some things to consider.
1) Will this be an income producing property?
a) What is the return on investment (ROI) for this property?
b) After evaluation is there positive or negative cash flow?
2) What are my operating expenses for this property?
a) Will I need to hire a property manager?
b) Do I expect major repair expenses in the future?
3) How easy will it be to maintain?
a) Can I manage the cost to repair the property if necessary?
b) Am I expecting major repair issues such…