What type of Rental Agreement should I use?

[Michael Hayes]

I want to keep this as simple as possible. I am just starting out. I want to be a Real Estate Investor, and I am getting started early. I just purchased a house a few months ago. originally I had some family (really close friends, so I though) living with me. We moved from a rental place, to the new home. A few weeks back I cam home to find that they had moved everything out and stiffed me with a pretty huge bill. I was working on a simple lease for them to sign, but that never happened.

Since then I have found two other parties that will move in to the property with me, in October 2014. I have been working on a lease, but was torn between using a sublease or regular lease agreement. I have been looking into this for a few weeks now and have not noticed any huge underlying differences between them.

So my question is this. Is it ok to use a lease for a property I am renting out, but still living in?

Thanks for the help in advance!