The time where you find their stuff in the basement will be when they move out and they need a place to put all the junk they don't want to take with them or dispose of.  

Hey there, Have the best inspector and GCs at my disposal.

For most people who don't come from a lot of money, to me, it's important that people know what tools are at their disposal to achieve their goals whatever those might be.

This is very simple.You file eviction.Go to court.When you stand in front of the judge present the facts.Be emotionless when you speak and have timeline in a clear,concise,and quick manner.The judge listens to all kind of long BS all day long and when they get someone who keeps quiet and gives and quick and concise response you will stand in good favor with them.I usually let the tenant dig a big hole for themselves and it works every time.The less you can say is better.The judge has heard every excuse before and will quickly dispose of the tenant.Usually after the judgement is entered you can pay for a writ where the marshall will come and throw the tenants stuff out.Depending on how many writs they need to serve that month it could take 3 to 4 weeks to get them out.The tenants do not know the writ office is back up so most leave right away.Here if 500 or less of property is left and it appears they have abandoned the property you can re-key and throw the stuff out.Here if they do not file an answer in Georgia for the court you can get the writ but not a judgement.I would have to pursue them in small claims court then.So as you can see it is vary important to learn processes for your state.I condition tenants before they sign a lease.No drugs,smoking inside,sex offenders,felons,aggressive dogs,etc. will be tolerated.We do inspections once a month and if ANY lease provision is violated we evict immediately.Everyone of my tenants pays on time now and the others have left.It's kind of like having a slack employee trying to get away with stuff all the time versus a great employee that works hard.

THE Q: I'd like to go into the house hunt with pre-approvals for both 203k and Conventional just to have more options at my disposal.

I obviously don't want to do anything that will make the IRS more likely to pick me out for an audit, but if it's not necessary to fill out a separate 4562 for the $500 microwave/range hood or the $400 garbage disposal, that would be spectacular. 

Also be sure to ask if there are hidden fees for things such as overages, appliance disposal fees, or hazardous waste fees. 

We don't get paid a lot but the beauty is that it is 100% disposable income because everything is taken care of!

My Situation - 23 years old... roughly $10k remaining in student loans... otherwise no debt... virtually no savings (all disposable income going toward loan payments)... lease ends in April 2016 at which point I will either continue renting for 1 year or purchase a multi-family property using FHA loan (pre-qualified) and occupy one unit while renting the other.Thoughts? 

As far as not being able to freely dispose of your property, that will never happen (unless the seller happens to choose to sell to a buyer who is using financing of the sort I just mentioned).