Would plan on waiting 6-12 months after purchase to refinance (which means my primary lender would need to carry the loan for that long), should that generally be sufficient?

If she has sufficient income and can otherwise qualify for the rental I would be tempted to go with it.

Set a deadline for their response (one week is sufficient) and if they don't respond then automatically head towards termination.The second issue is that your lease should explain what happens if they stay longer.

Would it be sufficient to point this out to potential tenants when they are touring the property?

I think the balance of your questions depends on whether you have sufficient capital to complete the rehabilitation all at once, or do you need to get the cash flow started to offset your expenses.

Your basic insurance policy with $300,000 in liability coverage should be sufficient in 99.999% of all lawsuits.5.

Your basic insurance policy with $300,000 in liability coverage should be sufficient in 99.999% of all lawsuits.5.

I've got a house that sleeps 8, and thought about putting it on the concrete slab in the back yard. 

I added 4th bedrooms to all of my properties by converting the garages, but most of the time that 4th bedroom was never even used or disturbed by guests.If you're don't have a 4th bedroom, you can still sleep some additional people with a blow up mattress or a pull out couch.More important than the pool and 4th bedroom is location though. 

Your basic insurance policy with $300,000 in liability coverage should be sufficient in 99.999% of all lawsuits.5.