I am a 21 year old house hacker looking for some advice from those with more experience. 

This obviously makes more sense for house hackers who have to live somewhere and can look at that negative monthly payment as the "rent" they are no longer paying.

I am considering buying a condo close to college campus to live in while renting out a room or two. How do I report that income and how much should I expect to pay in taxes if any? Do I need to live there for two year...

This is not different for a house hacker that is simply renting long term the additional units. 

A lot of house hackers will put up a wall/door, add a kitchenette to the basement and then you have essentially a duplex. 

Either investors are buying them for appreciation or to lock up the land or house hackers are doing it to save insane rent. 

The mortgage payment for a newbie on an FHA loan would be too high to expect the tenant side to cover, and it's probably going to be a while before any cash flow is realized.Trying to pick some experienced investor brains here: What would a good deal look like for an investor who wanted to provide some passive help to the hacker/ landlord in training?

December 24, 2008By Richard Adhikari: More stories by this author: A hacker got into the computer systems of electronic payment processing services provider RBS WorldPay, compromising more than a million customers' records.Formerly known as RBS Lynk, RBS WorldPay, which claims it has more than 20 years in the business, is the U.S. payment processing arm of The Royal Bank of Scotland Group.Personal and financial account information of about 1.5 million cardholders and other individuals, and the social security numbers (SSNs) of 1.1 million people, may have been accessed by the hacker, RBS WorldPay said in a statement announcing the break-in on Wednesday.RBS WorldPay describes the break-in as a highly sophisticated cyber intrusion on its Website.

Gene Hacker I do not necessarily want to work harder, just smarter.

I'm not saying that real estate is easy so don't misquote me there, but relative to almost any other business you can purchase that has a reasonable chance at producing revenue, the property manager/house-hacker has to be up there.Your tenants are right next door - you know if they aren't treating the property well.