House Hacking Questions.

[Tyler Yontz]

What’s up everybody, 

I am located in Portland, Oregon and some what new to Real Estate! my goal is to Get an FHA loan in order to acquire a SFR to House Hack. I had a conversation with a friend recently and a few questions were brought up about my plan that I wasn't to sure about. I listed them down below if anyone can answer these or has any other knowledge they can give me about house hacking that would be greatly appreciated!

1. Would there be anything stopping me from being able to rent out separate rooms on my property? (Laws, lenders)

2. Do I have to report Me House Hacking on my taxes or to my Lender? 

3. Do I get taxed on my cash flow from renting out my rooms?