Then each person is charged by the room, usually by the month,, on month to month lease with shared upkeep of common areas with a set chore chart.Entire house can be shared equally by family or several roommates, all on same lease.I would set your occupancy limit, income, credit, criminal, ect criteria and put this in your ad. so people know it's a >>> 4 br house,, with occupancy of >>> of 6 people max.. you set the limit, it just can't exceed code, but you can set lower than code to keep the house from having to much utility usage and less wear and tear.And parking is always a issue with more people.. guests, are issue. 

I also make sure I indicate on the lease and verbally that the only appliances included are the stove and fridge.For finding new tenants, I've stopped renting out the entire unit (4 and 5 bedrooms) and do single room occupancy only.

You cannot write off any of the other expenses, including depreciation - and you certainly shouldn't be writing anything off on a Schedule E.You're definitely trying to have things all ways - Homestead Exemptions are for owner occupants as are favorable interest rates.  

(All have same addresses on drivers licenses/Identification)They have decided that the lease will be in 2 of the 3 of their names because the 3rd woman has past eviction in 2010 (7 years ago) so she will be an occupant but not on the lease and she has past traffic/criminal record (not sure if it is DWI or something else report doesn't specify) but she will not be on lease but probably indirectly paying rent to other women as she will be an occupant).Woman #1- qualifies income wise by herself 3x's the rent but has a ton of outstanding student loans and bad credit rated 515.

Buy newer construction or updated properties so you don't get hit with a major cap-ex expense while revenues (rents or occupancy) are declining.5.)

Is there any law that limits the number of occupants based on the sq.ft or number of bedrooms?

Owner-occupants are out as well as investors that are weary of inheriting a tenant-stuffed property.

I'm a real estate agent with Berkshire Hathaway with my main office on the Main Line but doing a significant portion of my business in the city and greater suburbs...have worked with several buy&hold, owner occupants, and house hackers from BP. 

For example, I've been assuming I could average 20 days occupancy each month, but I really don't know what's "normal" or how to reasonably determine what to expect.

Murphy exemption); (b) single family housing sold or rented without the use of a broker if the private individual owner does not own more than three such single family homes at one time; or (c) housing operated by organizations and private clubs that limit occupancy to members.Exactly what you can get away with is beyond my scope and I wouldn't want to be the one to try.