. - WRT income, at a minimum it has to cover all of your costs plus some for unforeseeable expenses.  

To help expedite the rental unit approval/inspection, you can also talk with your local housing provider that runs the Sec 8 program what basic items they look for and make sure you have those covered. 

There are short-term rental management companies that can help with that.One that I work with in Michigan covers the entire state and can advise on local short-term rental regulations or regulations that may be on the way, they can give you an analysis of the demand for short-term rentals in that area, nightly rates in that area, monthly occupancy percentage, and projected monthly income.They also let you choose the level of service you would like from them from full service to minimal.To your success!

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

If not, you must get a job to cover the difference.Lasts Throughout Your LifetimeYour rental income relies on your tenants maintaining stable employment at comparable wages.

I was thinking this might work on my property in Redding and can be adapted to a shared housing project for seniors (though I'd want rooms large enough for bed, bath and seating area)  It's my understanding that it is considered a SFR with seperated bedrooms as far as planning.

I'm thinking 2 bed / 2 bath.

You're trying to pretend/make up/cover up/fake/etc - choose your favorite word.

The insurance ended up non-renewing our policy because of the "claim," and most other insurers wouldn't cover our home because of the claim. 

Which most lenders frown upon you utilizing a HELOC to cover EMD, Closing, and Down Payment.