Will be attending SECO 2018 to provide update on project in case anyone is interested.

@Chris Moore Yeah you way want to get some short term rental insurance through your regular home owners insurance.

Is the $10,000 available cash in our example is a reference to a HELOC rather than just a regular home equity loan?

Should I install bigger, updated tiles for the shower and risk the mold mildew grout issue or just install a prefab, fiberglass shower stall? 

Some things they consider acceptable....moving in grown children and their live in partners, pets without landlord permission,  modifications to unit without permission, bringing in curbside cast off furniture containing bed bugs etc.........Finding regular tenants that pay on time will be far less work and stress than S8.Additionally inspections can be a major pain.

I'm having my resume rewritten but don't expect to earn more than $35k at a regular job (but I need some decent health insurance).

Update for any of you following this thread.  

What are the disadvantages and advantages of a 203K FHA and the same for a regular FHA ?

i.e equity 40%Do you review your list and adjust regularly? 

Definitely post photo updates of the work it will be interesting to see the progress.