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Max discusses renting out a room in your house as a viable way to generate extra income, sharing his five years of experience in being a landlord. He mentions that while all his tenants have ultimately paid, some have been late with payments. Max presents a lease agreement he uses and encourages viewers to consider if it's suitable for them. He provides a link to resources at maxmymoney.org, which includes access to essential tools: a list of 17 screening questions for potential roommates, a room advertisement template used on platforms like Facebook and Craigslist, a roommate agreement detailing house rules, and the lease agreement itself.