Is renting our house to friends for a couple years (while we will be in another state) a good idea?My husband and I will have owned our house in Indianapolis, IN for three years April 2013. We have to live in the home until at least April due to the $8k first-time homebuyer credit. We are planning to travel to Colorado after April and are trying to decide what to do with the house. We purchased the home for $132k and are paying a little more than $1k/month for our mortgage. It is a really nice tri-level in a great neighborhood and the city is in the process of putting in septic systems. From what I've been told, that will increase the value of the home significantly.As I see it, our two options are: sell the home or rent it to a third party. We have found a family who would like to take over the home as early as next month. Here are my questions:1. Could we rent part of the home and still live in part of it until April to avoid losing the homebuyer credit?2. Would it be worth it to refinance if we are planning to sell the home in 2-3 years?3. If the family signs a contract that I write, how binding is that contract?4. What provisions could I NOT include in that contract?5. What are the inherent risks I should consider?Thank you so much for your help!November 16 2012 - Indianapolis00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.