There are a lot of potential risks, however, the good deals are good enough to cover the bad ones. 

I don’t want to drive people away but I want to cover my costs.

If anyone knows of an article that already covers these details or a podcast episode, feel free to share and I will check those out.

It's an interesting article about HOA's and COA's - might be worth a call to the law firm to ask about your rights and if your legal fees can be covered if you win.

You can charge a deposit - it's not as essential as a standard rental where a tenant can trash the place without your knowledge - but a smaller deposit to cover damage won't scare a room-renter off. 

If maintenance is covered in your cash flow reserves but you really like doing things like this it's never too late to start learning the handyman skillset.   

It covers managing, contracts, and laws, all in one place!

@Michael ElfantBuilder’s risk covers damage to the unit being constructed (property)General liability is more like umbrella coverage.

Its hard to say what the total picture is until you have enough info in front of you to walk through the various loan options?

Never turned on the pilot and it was covered in dust and rust.