If your tenant/roommate gets saavy they could just look on the county records and see that you own the property.

Roommates come and go, and it would be a pain to have to keep changing the contract. 

Roommates can become a serious issue, so the less the better.

Credit is bad for these two roommates, but the first payment was received early instead of skidding beneath the deadline or asking me for considerations (funny story, had an applicant ask me for considerations before move in - eventually denied tenant).  

Hello everyone,So this is actually my very first post but I have been reading on this site for some time, please point me in the right direction if this post is in the wrong forum.I currently own a condo in Metro Atlanta in which after all expenses (including HOA) are around $900 (my roommate me gives me $500 per month...is this considered house hacking?).

You're practically roommates.  

At first I was against it but I also don't want to live alone so I was thinking about charging cheap rent and just being like roommates.

I was in your shoes once, and ended up helping my friend manage her 4 bedroom house that we were living in as roommates after she moved to out.

They are all 19-20  year olds (3 room mates).

We have one set of roommates that I thought would work out but one roommate is not getting around to providing us all we need and finishing credit/background check.