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kveggie1 t1_j6ocaw2 wrote

Bad idea. Drop out rate? Money for repairs?

One should buy the house and rent to the others. Kick them out if they do not pay or break house rules.

Oh, how to enforce house rules?

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UltimatePlayer3301 OP t1_j6oe0xx wrote

I calculated 1% of house cost per year for repairs (I found that number somewhere online) would this be a safe number to use to put aside for repairs?

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EmberOnTheSea t1_j6of03g wrote

That is likely too low in the first couple years. When people are planning on selling their house, they often put off maintenance. Price a roof or furnace in your area and use that amount as your "worst case scenario" repair.

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UltimatePlayer3301 OP t1_j6ofihd wrote

I found the average price of a roof replacement in the area to be about $5k to $15k, so if we all had this amount saved, would you consider that to be safe?

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