How to start a group home

From the Lord of Petworth mail bag:

Your Majesty,

I sent this to princeofpetworth@gmail, but if the Prince is away, and
you asked for us readers to ask your advice, so I hope it isn’t gauche
for me to send it to you here as well.

I am almost done with renovations on a house at 11th & V. It’s a 2,500
sq ft (232 m^2) house, 4 bedrooms. I and my gal will be living in the
bedroom on the top floor, and will be renting out the other three, at
which point I guess this counts as a group house.

I’d like your and/or your readers’ advice on how one goes about starting
up a group house. What do residents around here look for? Should I meet
with applicants individually, host an open house? Anything I should look
for/avoid in applicants? And since your readers like to comment on these
things, what’s the going rate these days for a room in a group house (a
block from the U Street metro! Pre-Civil War house newly renovated! 200
sq ft bedrooms! Tall ceilings! Vegetarian kitchen! Spacious front/back
yards! Must see!)?

Thanks,

Ben

Any advice for the reno-group-lovin’ Ben?