Just breaking even or living for a few hundred dollars a month while house hacking is a great goal.

Things will break when you buy a property and you want to have some money to fall back on just in case.Lastly, you can also ask for a concession (money back) from a seller when purchasing a property. 

2) were don't have their security deposit- so how can we ensure that we are covered should something break down?

We happen to be in one of the few places in the country where you can buy and actually break even or cash flow in this scenario. 

My question is - can we rent out my primary house after refinancing the primary house mortgage loan in less than a year without breaking any rules.

Just something else that could break and doesn't bring increased value.

If so, you'd likely want to keep an eye on this news.

This site is cool because it breaks down the data into zip code/neighborhood specifics.

According to DS news, roughly 2.1 million homeowners are at risk of foreclosure.

-I suppose you could offer the tenant cash to break the lease early, still giving them some time to find another place... may not be a popular option but an option none the less.