Yes, we need to treat it like a business; however, when renting out a room in your personal home, you're essentially picking a roommate.

However, it’s essential to do some homework beforehand. 

It seems like location would be especially critical with pad-split (and similar systems), but I’d love to hear your thoughts on what to watch out for in terms of zoning, safety, or demand.Also, I’ve traditionally rented out units the regular way, so I’m curious how screening tenants works for you with the pad-split (and similar) model.

Simply safety screening criteria.

Another cool thing about hard money lenders is they work like a safety net.

@Alec Barnes As the owner of a property management company in Texas, I completely agree that a solid screening process is essential for placing quality tenants.

Avoid any self-help eviction tactics like changing locks.Maintenance: As a landlord, you’re responsible for ensuring the property meets basic health and safety standards, including working plumbing, heating, and electrical systems.Inspections: While there are no mandatory inspections required before renting, your property should comply with building codes.

I just bought it in the fall and am trying to complete a bunch of modifications during off-season (e.g. metal roof, certain safety features, treating the deck, possibly updating the fire pit area, etc). 

If you hire someone typically they are the ones providing this information, but if someone is paying you, then yes they need this information for tax purposes.BTW - I would say your SS# has been hacked so many times and is on the black market already this is why we monitor ours through other parties or just lock it down at experian and other agencies if you are concerned about it.Yes, I have concerns about ss number safety.

We look at things like safety, unemployment, schools.