The laws and rules that govern will change from state to state, state to federal, country to country.

Normally in a 1031 exchange that $500K would be taxable beause the IRS sees that as taking profit. 

(You must complete the sale before 3 years passes from your move out date, so it can’t be a rental for 3 years.)So…If you have a large capital gain that will become taxable when their lease expires (both federal and state income tax) you pretty much have to sell before that date or not for at least 10 years just to break even with selling now. 

I have VA disability/Federal Deferred retirement/self employed1099 income, but isn't enough to qualify for a new loan on it's own.

It should be noted that qualifying as a real estate professional doesn't guarantee rental real estate income will offset other net taxable income.It just allows a taxpayer to apply the material participation rules to rental real estate for a non-passive/passive determination.Consult your tax CPA/EA.

A lease is the way YOU want to conduct your rental so choosing one randomly/ already done may not be correct for you.Resident screening is very important but there are state laws and even federal laws (disparate impact as an example) that you want to be careful about.Having a few key maintenance people is very important as well because that is an area of great concern to the resident.I could go on but feel free to ask more questions. 

(e) While a person may examine and consider a criminal background check, credit history, or rental history in reviewing an application for rental housing, the person shall review and consider additional history in reviewing an application for rental housing, the person shall review and consider additional information provided by the rental applicant, including, but not limited to, personal references, recency and status of any evictions, and any actions taken by the rental applicant to resolve past evictions, credit challenges, or alleged damages, the recency and severity of any convictions, the violent or sexual nature of any prior convictions, the facts or circumstances surrounding criminal conduct, the age of the applicant at the time of the conduct, the age or vulnerability of the victim of the conduct, evidence that the applicant has maintained a good tenant history in the intervening time, and evidence of rehabilitation efforts, consistent with state and federal law, including, but not limited to, fair housing laws.

Unless it is a federal pacific or similar panel, it likely does not need to be replaced.

Each time you sell crypto, it is a taxable event, just the same as selling stock in an investment account (with exception to tax advantaged investment accounts).

(Turning it in to a rental makes those gains taxable and will probably take a decade just to break even on taxes.)2) This is the ideal rental you would buy if you had the cash in hand instead of this home?