Just had a guy here tell me on bigger pockets his house hack is dog sitting....so he is boarding dogs in his house hack instead of having roommates. 

I'm almost at the point of replacing all of my W2 income with my rental income from house hacking a little more creatively (using rent by room to increase the returns).Since you are a recent college grad and going to grad school, I imagine that you are used to living with roommates, so the strategy that has worked for me and other house hackers in Denver is buying a large single family in Denver metro (basically anywhere within 20 min of downtown Denver between 400-500k), and living in the smallest room and then renting out the other rooms.

Will you have roommates while you're living in the property?

House hacking isn't for everyone, but for people that already have roommates, live in apartments, etc, it won't the biggest change.

@Cory Lucas thing of it this way, he has been struggling to pay rent and now he has a roommate to help make rent payments.

I have a 10/1 arm on the property with a 2.85% interest and no PMI.Closing costs are right about $5,000I will be renting the one have out and I will have a roommate on the side I live in with me.

One roommate can move out of the home.

In his original message he mentioned he bought it in 2012 and is currently living in the property so he most likely won't be depreciating his current property unless he is claiming home office or is renting a part of the property out to boarders/roommates (most dont claim).Guidelines for vacating from a current primary and using rental income are different than calculation of existing rental income.

Then start looking for roommates!

This is the only legalese I was able to find about it:Personal Use of Rental Property—Roommates & Boarders"Renting part of a property.