I need help with a contract for house hacking, plan to rent out both extra rooms.

Guac is always extra.

You have to document meetings, rules and do a little extra at tax time.

I love TK providers that find the ugly duckling in a good or up-and-coming neighborhood, renovate it at a good quality (without going overboard) so it appraises at or slightly above the asking price, and then has a property management team in place (in-house) to manage the property.It's not always possible to find such an ideal solution, so the relationships of the different parts of the deal (finding, renovating, managing) are very important and a track record makes an enormous difference.

So asked for bank statements to verify 3 months of rent, but they have no savings.but their credit score is fine and no late payments or evictions.wondering,  if that should be consider may be with extra deposit or not?

Example if a volume listing broker has below market rate co-op of 1.5 to 2% to buyer broker then buyer might be required to buyer broker to pay 1% more of the purchase price to meet a minimum fee agreement.It's more rare to find a highly experienced commercial buyers broker as most senior directors stay on the listing side with teams and have junior agents do the grunt work and marketing and screening of buyer leads that come in to see if they are worth anything.Like anything in life you pay for the experience level.You can get junior agents desperate to make a buck to keep their lights on and feed their families that will work for whatever but they have limited networks just starting out and almost no knowledge or experience.The buyer can focus on the 20k or 40k extra they pay to a highly skilled buyers broker and decide instead to work with a junior agent and then get hit with a 1 million mistake to their investment capital.I am not talking about big funds, REIT's, developers that have bought hundreds of times and do their own thing.

I don’t ask for extra upfront.

Are you just looking for extra cash, do you want to escape your W-2 job, or are you just looking to sock things away so you can live well later in life?

If you want to really dive in and do more deals, then pull out the money so long as you can afford the extra monthly.

Make sure you consider all the extra expenses that str properties have:third party software, supplies, county taxes and business licenses, utilities, internet, etc.and run the numbers to estimate what your cash flow will be in the high season and low season.