Don't commit to them just let them know your testing waters and are about to jump in this beautiful game.

I think it would show your integrity and commitment. 

If you have a longer lease, you'll be committed to dealing with that situation unless you can get them to agree to move out sooner.In our leases for the extra room(s) in the house, we made sure to spell out everything such as what was common space and what wasn't.

Before I commit to a contract I am exploring both options of a conventional refi loan on an existing property i own out right since I have good credit and work a full time job OR...going hard money refi on it.Reason why I'm having a hard time deciding is due to timing. 

Do not hold the unit for anybody...... if they want it that bad they are going to have to sign the lease, pay the deposit, first month rent etc etc etc, and just have to suck it up having 2 places rented at the same timeOnly other option, is a non-refundable deposit of one months rent.... so when they bail at the last minute, you aren't out that months rent.....Otherwise....no way...... why would you want to lose $$ to hold it for someone that has zero commitment to actually following up on their end of the deal?

You definitely took a good first step by finding BP and committing to learning. 

I always suggest to people to set up MLS / Redfin alerts on all the properties in their area and commit 20-30 minutes a day to going through them. 

I'm mostly concerned about what information i should receive before i commit to buying..

We HAVE had things move quickly from city officials getting behind us, but that was with clear discussions and firm commitments.

I'd be interested in house hacking In the future but couldn't currently due to housing commitments.