Quote from @Carlos Lez: This is why it's important to have a written agreement that spells out the consequences.Once someone agrees to rent the property, they are obligated.

You have to spell it out to them that they might need to pay double rent for a few days or weeks to get the apartment. 

I would be living in the property until the refinance is complete and for a short spell aftwards.Notes:looking for information such as the following; are the rates still favorable similar to an owner occupied property, Is the required equity in the property more than 20%, would I have to use a commercial loan.The ultimate goal is to have tenants occupy it and let time do its thing with regards to pay down, increasing cash flow and appreciation.

There's one called Freedm or I think that's how it's spelled.

Can someone please spell out the correct path here, thank you.

Does the lease spell out that the tenant is responsible for not only keeping the property reasonably clean and undamaged and responsible for their own tolietpaper, but they are also responsible the general upkeep of caulk?

There may be someone that would partner with you for a pre-determined equity split.NOT LEGAL OR TAX ADVICE:  You will probably want to form an entity to purchase in that spells out the equity / ownership splits and lays out exit strategies. 

The lease agreement will spell out the amount of the late fees

If the documents don't spell out who is responsible, then I would suggest it is an owner cost of doing business.

Once more spell out what is exactly in the lease and hold them to it or give them notice.