If you are focused on the $120K gross/year, you may reach for propositions with a lot more risk (kinda what those "do nothing and get rich" guys teach).You take bigger risk with less experience and rely on the kindness of strangers, your odds aren't very good.Get experience first.

The question is whether it's worth it to deal with the headaches that come with the kind of tenants who may be willing to live with strangers in the middle of a pandemic at a budget rate. 

Also, with rental prices falling in SF and COVID fears still very much alive, people have more options than signing up to rent a room with complete strangers. 

This question is about renting out rooms to strangers:  In a SFH situation what kind of contract do you draw up when renting out a room? 

That's pretty strong advice you'd give to complete stranger who's goals you aren't aware of.3.

It should protect you personally from liability from having strangers use the property, and maybe falling off your deck, or other issues. 

If you can keep a tenant or two within your social sphere you'll likely have an easier time than managing 4 strangers from Craigslist. 

You don’t know them any better than a stranger walking down the street.

Would you buy it from a stranger?

I'm no stranger to real estate investing or the problems that come from having tenants, but I'm seeing the tenant problems from the position of a PROPERTY MANANGER.