Lender rules are tightening, Fannie Mae just got rid of Vacation home loans that investors were using to get into STR for CHEAP and interest rates are going up.

To my point, this quote stuck outWith so many still waiting for relief, however, about a third of landlords said they will be forced to tighten standards when evaluating future rental applicationshmmm.

We found that even with having the renter complete a background check and paying a very nice rate for the room, there were some unanticipated strains from having a stranger living in our home.

HOA and Condo association fees put added strain on cash flow.  

Also, being in "business" with family can be a bit tricky and can lead to some uncomfortable discussions and maybe strained relationships. 

House hacking is a great way to start your career, but if you feel this might put too much of a financial strain on you, I would recommend first investing in a deal that you can learn the ins and out of.

I'd recommend tightening your criteria and waiting until you get a solid renter.

In this market, that is overpriced, some of the banks have tightened up on investment properties some have gone up to 20% down on investment property.

Move forward, sounds like possibly the property is a C class, making your situation quite common, if not then simply tighten up your screening.

You should however tighten up your lease in the future, as you have already seen there are numerous holes that need to be eliminated.