It cuts out all the noise as I analyze a deal.

In DFW, Dallas, and Fort Worth I would only consider a short term rent situation for homes around the downtown areas, sports arenas, and DFW airport.Cons: Unreliable/low income during off-season.More cleaningNo guaranteed incomeUtilities and cleaning increase price needed per nightLong term rentalPros: Guaranteed income every monthUtilities are covered by tenantLess noise, drama, etc if tenant screening is thorough - short term renters are most likely on a holiday so a high percentage will be partyingMuch more passive incomeCons:Short term MAY have higher income depending on every other factor listed above.

But I'm afraid of too picky inspections and that I'll need to remove all walls, ceiling and floor (basement has kind of inside crawl space - elevated floors for plumbing I guess)I'll do some apparent work anyways: add vents for bathroom/dryer/microwave, insulate and enclose the furnace (at least from thr bedroom), check for gfci/arc breakers, may be put resilient channels and more drywall to reduce noises from main floor.. also - add heating.. etc.Does someone have experience permitting someone's work? 

It would definitely be a grind getting our house sold, packing up, downsizing and moving but our living expenses go from 2062 a month down to 500 a month.

Alternatively you can also read the books in the following Biggerpockets page - https://www.biggerpockets.com/blog/wp-content/uploads/2018/11/Best-Real-Estate-Books-Ever.pdfI would say spend enough time in grinding the axe before you start chopping the tree.  

My only caution is if someone is living the basement the LVP will be noise for them down there.  

If I was planning to non-renew the tenant anyway (due to an inability to be a decent neighbor), I'd make sympathetic noises to neighbors without actually saying anything and "encourage" them (discreetly) to go ahead with their complaint.

Their are mitigation tactics including minimum age for bookings, screening for .edu addresses, noise detection devices etc.

My workouts often include deadlifting, and I am concerned about noise for the 1st floor tenant from dropping weights.My second concern is the flooring.

For example, I make sure my house hack tenants know they're to keep the kitchen/bathrooms clean and not make noise in the evenings!