Roommates in the house I live in

[Joshua Kerner]

Hey BiggerPockets community,

I Just closed on my first porperty. It's a 2 bedroom that I have turned into a 4 bedroom. The property will be a student rental when I move out, but I plan to live here until I find another deal. Until then, I'll be househacking this property. 

I have 3 friends who have verbally committed to paying monthly rent for 11 months.  I have some questions regarding this situation. 

Question 1: Would it be in my best interest to create a lease for my three roommates? 

Question 2: Would this lease be different than a lease I would provide to people who DON'T live in the same property as myself? By this, I mean is this contractual agreement different than what is considered a lease? 

Question 3: What are the tax ramafications of doing this kind of agreement? 

Thanks!