[quote=Nor-LA-SD-guy]Personally I find that the higher end you go for rentals the more trouble you will have, as these people are generally not in the life time renter class and have a much different attitude toward renting than someone more inclined to rent for a long period of time. So I would not look at a rental home the same as one you would want to live in, but whatever you are most comfortable with I guess.
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My point is just that you can’t buy an apartment conversion and think someone will say “oh good, an 11’x12′ master bedroom and a carport,” because they won’t. They’ll immediately cross you off the list. There’s a point where it’s large enough that it isn’t a pain in the ass to live in, but not so large that the tenant may as well buy something rather than pay that kind of rent. I definitely wouldn’t go high end on a rental. My 2000sf place is the largest I would consider.
You are far less likely to have trouble with tenants if you do a thorough reference/employment/credit check, and if you price below market, the good tenants (who can be choosy) will tend to gravitate to you.
