I've worked with a smaller portfolio lender that if I did that they would want to escrow it as a LIP (I've talked to them about it before).

Do NOT use greenboard in the shower, it is moisture resistant, not water proof, greenboard is for the rest of the walls and the ceiling in the bathroom.put the shower pan in, get a product that is called " mason lath" install that on each stud around the shower base ( this will pack out the wall 1/4") then put the cement board on, it will go past the lip and onto the shower base. do not end the cement board on top of the flange, IF water ever gets behind the tile, it would flow down and follow the board, without it going to the base it would follow the board and in the walls. as @Tyler Resnick mentioned use thinset and mesh tape the seams and corners and cover screw heads, btw, try not to sink the screws into the cement board and be sure to use the screws meant for holding cement board, not drywall screws. as long as you install the cement board in that manor, you should not need any further waterproofing because any water that penetrates the tile will flow down and into the shower pan.attached is a crude drawing for you. 1st is with the mason lath, 2nd is ending the cement board on the lip, 3rd is if you run the cement board down on the shower without packing out the wall, the cement board will" kick out"

Whatever you do just bite your lip and stay cool.

lolHey guys,Its Engelo Rumora here.Your favorite Aussie :)Just wanted to introduce my right hand mate@Joshua J Bowen Joshy is a licensed agent in Ohio and looks after our Realty division along with property management and lots of other stuff :)Please feel free to bombard him with questions on anything and everything relating to the Ohio market along with making wine and beard balm hahaThanks and have a great day.ps.

It comes with a beveled lip that the nut can't slip off of.

What I do to ease this along, is take my knife and cut the lip off the piece.

I just looked at a house where the upstairs needed a lip stick flip (paint, carpet, new appliances, kitchen and baths probably could saved as I was planning on renting it), but the basement was totally destroyed.  

As a society we seem to pay lip service to 'morality,' but practice something else.

We then line the lip of the skirt with a compressible piece of weather stripping (like what you would use around an exterior door stop).  

Poke your lip back in and get out there and get after it.Don