As severance he has a guaranteed salary plus $2000 housing allowance for three years.

There are options for you there, but obviously nothing is guaranteed.

I can almost guarantee the builder is not going to do it at actual cost either.

The common theme here in BP is ... all the info you need is here for free, which it is.For some people who works 40 + hours per week and wants to get out of that  9-5 asap, they may not want to take the time to sift through all threads, pod casts and such, these courses may be a more time efficient way plus from what I seen they off money back Guarantees.

FMR's are not guarantees and they are going to base the actual rent on the market rents.

I would like to know the best approach to let the tenant know about the repairs with the option to modify the lease for a smaller unit, I don't want to come across as a shady landlord, because I like the guaranteed check from section 8 and the tenant.

I want to enter Originations with more experience and a solid book of business with guaranteed deals.

Show respect, and I guarantee it you will never be asked to show any proof of funds.. well unless you are fugly...then all bets are off.So my tip for you is... be cool mate.

Even though it may be listed as insured or insured escrow, it is no guarantee of FHA financing(although it used to be). 

The LLC will be of no use to you in this regard because you will have to guarantee any debt personally since the LLC has no assets.