Types of Lease Agreements (Househacking)

[Steven Moore]

Hey BP Community,

This may be a newbie question but what the hey: I'm house-hacking a single-family home

Do you need a specific lease agreement (like a shared lease), or will a general one due?

Also, what do you base the rent on; do you go by local rents in the area or a certain percentage of the mortgage?

I have a tenant ready to go but I'm having trouble getting clear-cut answers.

Thanks in Advance Guys!