based on your rent numbers, i might be renting below markets rents.

That is why I'm focusing on some of these "higher end" markets because rents are more likely to continue to increase and the tenant base is really solid.We should connect sometime! 

Some of these other options you listed are decisions based on how you want to live and how you feel about having strangers in your primary house and aren't something we can tell you to do. 

@Sandeep DhallI use DIY and I love them for the algorithm-based studies.

Do you have cash reserves for the construction draws? 

He told me I qualified for a discount based on expected income and that while the policy was about $350/month with my discount I only pay about $99/month.

Some base their decisions strictly on numbers and do not care about the area, while others are okay with a lower yield but focus on the city and even specific neighborhoods.

Just go about the steps to evict him based on the advice of your attorney and go from there.

Essentially I want to know if the deal can be killed at my discretion as soon as lender A denies financing or if I would then have to get denial letters from lenders B and C as well to kill the deal.There is the small matter of your lack of good faith and fair dealing with the seller if you qualify through others and elect to kill the deal based on the lie that you can’t get financing. 

If you plan to operate this product, you still need to have cash to bring to the table as well as enough liquidity for rehabbing (you can get reimbursed through draws, but you start out using your own liquid).