If you are short on Capital, but heavy on sweat equity you want to play to your strengths, so using the banks Capital while you force appreciate a property you live in is a good way to build equity.  

It spells out the monthly rent,when it’s due, the length of the lease (or term), should contain clauses required by the federal and state governments, andmuch more.

We can also provide some recommendations on how to build your team and how to setup the project for success.

I would rent the extra room(s) similarly to a medium term rental property.

This is just the price of the option and I prefer the term because deposit often carries other definitions and expectations.

In terms of do you sell now, there are a lot of questions:1.

The short version is that they can only do so much work before March 15 (businesses) and April 15th for personal returns.  

You evict them if they are not following the terms of their lease/rental agreement.Find out what the caps are on rent increases (if there are any). 

How do you estimate just how many residents will stay long term vs. decide to leave or perhaps pass away during their stay?

I would try to find a short term/mid term rental friendly agent who might be able to give you super accurate feedback on the market