The whole process will take 2 hours start to finish and I am not even interested in billing them for the time, time is more valuable to me than money, and I just dont want us to have to take the time. 

It's an older book, published in the 60's I believe but I read "how I turned $1000 into a million in real estate in my spare time" by Bill Nickerson years ago and got a tremendous amount out of it. 

As it enables you to live in one unit of a property while renting out others to pay your housing bills, house hacking is an excellent strategy—especially for first-time homebuyers.

You can check all this stuff,  remind the tenant to do the basic maintenance/cleaning or if necessary do it yourself and bill them for it.    

I am considering switching the property to six-month lease terms, so that I maintain the choice of whether to keep renewing...Full details of the bill here: https://leg.colorado.gov/bills/hb24-1098

What would happen if I bought a house and moved in, rented the rooms out, then quit my job a few weeks later and used my self employment income to cover remaining mortgage payments and my bills?

Finally, if taxes are not paid before the seventeenth day of March, an additional five percent penalty is applied (for a total of fifteen percent) and the tax bill is considered delinquent.

Draw schedule to be agreed upon prior to closing.Term: 1 YearFee to Lender: 2.5 points – ($13,125 paid at closing from loan proceeds).Interest Rate: 11.5% Interest-Only billed monthly on outstanding balance.Interest Reserve: $15,000 – approximately 6 months interest, paid at closing from loan proceeds.Once interest reserves are depleted, borrower to make interest-only payments monthly.Pre-Payment Penalty: Should loan be paid off prior to interest reserve funds being depleted, a pre-payment penalty will be charged equal to the amount remaining in interest reserves at time of payoff.Loan 2: Loan amount 490,530.60Lender Points: 3%broker points: 1%rate: 11.99%Term: 12 months (interest only)Prepayment penalty: NoneProcessing fee needs to be wired before LOI can be issued

Every one of them billed for everything, usually in 6 minute increments.

@Bill B.