A few years ago I was at a friend's house and her family was having a few financial problems. Her parents had come up with the idea of buying a shed and converting it into a studio apartment. Which they now rent out for 500.00 a month. I think this is an excellent idea. The only problem is I need ideas on getting started and floor plans. Does anyone have any ideas? Let me know.
What about bathroom faciltiies? Also, check zoning in your area-in some areas anything with a permanent floor, i.e. slab, needs a permit. You also could run into a multiple-residence glitch with the city.
If you do this, call your insurance and get an 'umbrella' policy. You don't want a guest of the tenant to fall and get hurt and then sue you. Etc. It's a great idea! You will benefit tax-wise, too.
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